Nvidia Gets Rare Downgrade as Analyst Warns About Future Upside [BNN Bloomberg (Canada)]
Super Micro Computer, Inc. (SMCI)
Last super micro computer, inc. earnings: 8/3 04:05 pm
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Source: BNN Bloomberg
That's according to New Street Research analyst Pierre Ferragu who downgraded the AI-focused chipmaker to neutral from buy, saying the stock is “getting fully valued” after soaring 156% this year, on top of a gain of almost 240% in 2023. Shares fell as much as 2% on Friday, compared with a gain of nearly 1% for the Nasdaq 100 Index. Additional upside “will only materialize in a bull case, in which the outlook beyond 2025 increases materially, and we do not have the conviction on this scenario playing out yet,” said Ferragu. While the “quality of the franchise is nevertheless intact,” there is, “if anything, a risk of derating” should the current outlook remain unchanged, he added. The downgrade is rare for a company that has become the biggest beneficiary of the artificial intelligence spending boom. Nearly 90% of the analysts tracked by Bloomberg recommend buying the stock. Nvidia trades at nearly 23 times estimated revenue for the next 12 months, making it the most expensiv
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SMCI
Earnings
- 4/30/24 - Beat
SMCI
Sec Filings
- 7/3/24 - Form 4
- 7/3/24 - Form 4
- 7/3/24 - Form 4
- SMCI's page on the SEC website