Recent hiccups for Nvidia could be the start of broader weakness for the artificial intelligence boom, and investors should consider dialing back their exposure to the stock, according to one small equity research shop.
But last quarter sequential growth slowed again and now I'm concerned that it can continue to slow in Q3 and Q4.
Elazar is not completely alone in being skeptical of Nvidia, but it's definitely a contrarian stance.
Of the 64 analysts tracked by LSEG, 58 have buy or strong buy ratings on Nvidia, with the remaining six having hold ratings.
Nvidia's stock is up 700% since the start of 2023, so being bullish has been the right call for Wall Street analysts.
Persons:
Elazar, Chaim Siegel, Blackwell, it's
Organizations:
Nvidia, Elazar Advisors, Wall Street
Locations:
decel