Nvidia Downgrade By Pierre Ferragu's New Street Countered By Dan Ives: 'Cannot Disagree More…'
Portfolio Pulse from Benzinga Neuro
Wedbush analyst Dan Ives has opposed New Street Research's downgrade of Nvidia Corp. (NASDAQ: NVDA), citing the AI revolution as a key factor. New Street's Pierre Ferragu downgraded Nvidia to neutral due to concerns about overvaluation and meeting expectations. Despite the downgrade, Ives remains optimistic about Nvidia's future in AI.
July 08, 2024 | 3:33 am
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NEUTRAL IMPACT
Nvidia received a downgrade from New Street Research due to concerns about overvaluation and meeting expectations. However, Wedbush analyst Dan Ives strongly disagrees, citing the ongoing AI revolution led by Nvidia.
The downgrade by New Street Research could negatively impact Nvidia's stock in the short term due to concerns about overvaluation. However, Dan Ives' strong opposition and emphasis on the AI revolution may counterbalance this effect, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100