According to Odaily, the astonishing surge in Nvidia's stock that began last year has finally reached its end, at least in the eyes of New Street Research analyst Pierre Ferragu. Ferragu has downgraded Nvidia's rating from 'buy' to 'neutral'. He believes that after rising 240% and 157% last year and this year respectively, Nvidia's stock price has 'fully reflected' its valuation.
Nvidia's increase this year ranks second among the S&P 500 index constituents, only behind another AI concept stock, Super Micro Computer Inc. Nvidia's market value has increased by 1.9 trillion dollars this year, at one point claiming the crown of the world's highest market value company. New Street has set Nvidia's target price for a year later at 135 dollars.