RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%
Technology Stocks
Analyst Presents Bearish Outlook for Nvidia Shares
As Nvidia Corp.'s share price continues to rise, there is speculation from a software analyst about a potential scenario where the stock could lose up to 20% of its value. Gil Luria, Senior Software Analyst at D.A. Davidson, acknowledged that Nvidia is a strong company that would have performed well regardless of the boom in generative AI that fueled its significant rally.
Luria highlighted the current boom in generative AI, attributing Nvidia's success to major customers like Microsoft, Amazon, Google, and Meta, which are stocking up on its GPU products for various experiments and projects related to generative AI. However, he cautioned that this trend may not be sustainable in the long term.
According to Luria, the demand from major customers will reach a point where they have acquired the necessary capacity, and they won't continue purchasing Nvidia's products at the current pace. He suggested that current estimates do not factor in the eventual slowdown in demand.
Luria predicts that Nvidia's revenue could decline in the next four to six quarters, leading to a potential contraction in the stock's performance. He emphasized that the current highs may not be sustainable, and as revenues contract, the stock's performance is likely to be affected negatively.
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