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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
Here are Thursday's biggest calls on Wall Street: Bank of America reiterates IBM as buy Bank of America said the "portfolio is delivering" despite the company's mixed earnings report on Wednesday. Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's sticking with Ford as a top pick following earnings on Wednesday. Bank of America reiterates CrowdStrike as buy Bank of America lowered its price target to $365 per share from $400 but said it's sticking with the stock. Barclays reiterates Super Micro Computer as overweight Barclays said it's sticking with its overweight rating heading into earnings in early August. " Bank of America reiterates Birkenstock as buy Bank of America said the stock "warrants a higher multiple."
Persons: Mizuho, ServiceNow, Morgan Stanley, Ford, KeyBanc, Baird, AAPL, Price, LULU, Goldman Sachs, Dell, Goldman, Roper, CBRE, it's, CrowdStrike, Susquehanna, Bank of America downgrades Lamb Weston, Lamb Weston, Chipotle, Piper Sandler, Marvell, Piper, Birkenstock Organizations: Bank of America, IBM, Infrastructure, Consulting, Mizuho, Software, Ford, Apple, BMO, Citi, Dell, DELL, Roper Technologies, " Bank of America, Meta, AMD, SOX, JPMorgan, GE, Deutsche Bank, Deutsche, Barclays, AMC, Sirius XM, Davidson, Polaris
Evercore ISI reiterates Netflix as outperform Evercore raised its price target on Netflix to $640 per share from $600. Citi downgrades Chubb to neutral from buy Citi said it sees a more balanced risk/reward for the insurance company. Goldman Sachs upgrades Citi to buy from neutral Goldman said in its upgrade of Citi that shares are "compelling." Citi reiterates Nvidia as buy Citi said after a series of investor meetings that Nvidia is a "most favored name." Bernstein reiterates Nvidia and Broadcom as outperform Bernstein said Nvidia and Broadcom are still top picks at the firm.
Persons: Deere, Truist, Bernstein, Tesla, Citi downgrades Chubb, Goldman Sachs, Goldman, Wells, Berenberg, it's, Caterpillar, Morgan Stanley, Meta, Utz, Armour, Evercore, Kevin Plank, Stephanie Linnartz, Jack, Argus Organizations: Deere, UBS, Netflix, Citi, Logitech, Barclays, Thomson Reuters, Caterpillar, Nvidia, Micron, Facebook, Raytheon, Bank of America, of America, Utz, UAA, JPMorgan, IBM, Broadcom, VMware, Argus, Oracle, Oracle Corp Locations: Williams, Sonoma
Read previewSam Altman's brief ousting as OpenAI CEO didn't just thrust the company further into the global spotlight amid reported personality clashes. It's also highlighted a bigger ethical debate in Silicon Valley: how fast companies should move when pushing out AI technology. Broadly speaking, the debate lies in whether you think that moving full-speed ahead on AI technology will save the world or you think the industry needs to slow down. One key Silicon Valley backer of the idea is veteran venture capitalist Marc Andreessen . His advice to Silicon Valley: "I would encourage any watchers of the industry to not get stuck in a divisive set of rhetoric."
Persons: , Sam Altman's, didn't, It's, Altman, he's, you've, Marc Andreessen, Elon Musk, Peter Thiel, Sam Bankman, Helen Toner, Tasha McCauley, Toner, McCauley, Altman's, EAs —, Sriram Krishnan, Andreessen Horowitz, — Sriram Krishnan, Gaurab Bansal Organizations: Service, Business, acc, EA, Elon, Wall Street Journal, EAs, Labs, US Department of Commerce, Innovation Labs Locations: Silicon Valley, Silicon
Amazon is still a buy after its latest earnings results, even with some weakness in Amazon Web Services, according to Wall Street analysts. The online retail stock initially jumped Thursday night after Amazon reported better-than-expected revenue in its first quarter . Amazon shares were last down about 1% in the premarket. AMZN 1D mountain Amazon shares 1-day However, analysts stayed bullish long term on Amazon, citing continued upside in retail, but they urged investors to "stay patient" on AWS and look toward the long-term opportunity in cloud services. Meanwhile, Goldman Sachs' Eric Sheridan reiterated his buy rating on Amazon, and raised his 12-month price target to $165 from $145.
Morgan Stanley names UnitedHealth a top pick Morgan Stanley says the healthcare company is best positioned in a recession. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley said Netflix is the "streaming winner" but that it's "priced as such." Morgan Stanley downgrades Nasdaq to equal weight from overweight Morgan Stanley said that it has growth concerns for the exchange operator. JPMorgan upgrades Federated Hermes to overweight from underweight JPMorgan said the rate environment makes the capital market company's stock more attractive. Morgan Stanley upgrades AstraZeneca to overweight from equal weight Morgan Stanley said the pharmaceutical company is "leading the race" to outsmart cancer.
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