Analyst Challenges Nvidia's AI Dominance, Predicts 28% Plunge in Stock Price from my beaver needs a haircut reading Watch Video
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⏲ Duration: 0:40 👁 View: 560K times ✓ Published: 08-May-2024
Description: D.A. Davidson analyst Gil Luria predicts a significant 28% drop in Nvidia's stock price from $864 to a target of $620 over the next year. Luria predicts major tech companies like Google, Amazon, Meta, and Microsoft will reach GPU capacity needs, reducing demand growth for Nvidia's chips. Some big customers are also turning to Nvidia's rival AMD for AI chips that are claimed to be better than Nvidia's for certain uses. While most analysts are bullish on Nvidia, others share concerns about high expectations not being sustainable and risks from tensions with China.