Nvidia (NASDAQ:NVDA) shares fell more than 8% Monday, extending their year-to-date decline to more than 17%, a drop that Bernstein analysts called "a little stunning" given the company just launched its Blackwell product cycle. Bernstein, led by Stacy Rasgon, noted that Nvidia is now trading at ~25x next-twelve-month earnings, marking its weakest valuation in a year and near decade-lows.
The stock is also trading below parity with the Philadelphia Semiconductor Index (SOX), a rare occurrence in the past decade. While supply chain concerns, tariffs, and regulatory risks have weighed on Nvidia, Bernstein believes the AI trade isn't over.
The firm noted that $11 billion in Blackwell chip revenue was shipped in January, signaling that demand remains strong. With Nvidia's GTC 2025 conference set for March 17-21, analysts see a potential catalyst ahead. Bernstein maintains an Outperform rating with a $185 price target, calling the stock's valuation increasingly attractive despite recent volatility.
This article first appeared on GuruFocus.免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。