Analysts predict slowdown in Nvidia; Wall Street favors Apple, Amazon, and Alphabet over Nvidia

From NASDAQ: 2024-04-07 05:45:00

1. **Nvidia** has seen a remarkable increase in stock value, up by 240% in 2023 and 80% this year. However, analysts predict this trend will slow down, with the consensus price target barely above the current share price. Wall Street favors three other stocks over Nvidia for potential growth.

2. **Apple** may have lost its top spot in market cap to Microsoft in 2024, but analysts are bullish on its future. With a 9% upside potential, 32 out of 36 surveyed analysts rate Apple as a buy. The upcoming June developer conference could be a key event for new strategies and growth.

3. **Amazon** pleased investors with an 80% gain last year and a 20% rise in 2024. Cloud services, advertising, and generative AI are driving growth. Analysts project a 6.5% upside potential for the stock, with 43 out of 47 analysts recommending a buy.

4. **Alphabet**, the parent company of Google, saw shares rise 58% in 2023 and is up 10% this year. High ratings from analysts and growth opportunities for Google Cloud and search are driving optimism. Despite some AI app challenges, long-term expectations for Alphabet remain strong.



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