Sell high-flying chipmaker Nvidia because demand going ‘from bad to worse,’ analyst says# Stock
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Pacific Crest lowered its rating on Nvidia to underweight from sector weight
, saying a survey of the chipmaker's customers indicate earnings will come
in below expectations this coming year.
"We are downgrading NVDA … due to signs of desktop GPU [graphics processing
unit] market saturation, lower margins from incremental Nintendo Switch
revenue and a possible pause in the company's datacenter business this
summer," analyst Michael McConnell wrote in a note to clients Tuesday. "
Desktop graphics card manufacturers are noting material demand deceleration
in sell-through since February."
, saying a survey of the chipmaker's customers indicate earnings will come
in below expectations this coming year.
"We are downgrading NVDA … due to signs of desktop GPU [graphics processing
unit] market saturation, lower margins from incremental Nintendo Switch
revenue and a possible pause in the company's datacenter business this
summer," analyst Michael McConnell wrote in a note to clients Tuesday. "
Desktop graphics card manufacturers are noting material demand deceleration
in sell-through since February."