Nvidia’s breakneck rally since the start of last year has finally run out of room to push higher, according to New Street Research analyst Pierre Ferragu.
Nvidia Corp.’s breakneck rally since the start of last year has finally run out of room to push higher, according to New Street Research analyst Pierre 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 climb has added almost $1.9 trillion to Nvidia’s market capitalisation, and briefly resulted in it attaining the title of the world’s largest company.
However, valuation is often cited as a concern. Nvidia trades at more than 22 times estimated revenue for the next 12 months, making it the most expensive stock in the S&P 500 Index by this measure.
Artificial Intelligence Big Tech New Street Research Nvidia Pierre Ferragu Super Micro TSMC AI Business
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