From Financial Modeling Prep: 2025-04-03 13:15:00

NVIDIA’s rating was downgraded from Buy to Hold by HSBC analysts, with a reduced price target of $120 from $175 due to concerns about fading pricing momentum in the GPU market. HSBC had previously been bullish on NVIDIA’s dominance in AI chips, but now sees no significant increase in average selling prices for new-generation GPUs.

The shift in NVIDIA’s story comes as HSBC notes that the forthcoming Vera Rubin platform does not offer notable performance improvements in GPU density, potentially limiting near-term growth catalysts. With pricing advantages plateauing and product specs leveling off, earnings upside may be capped, prompting the downgrade and lower valuation outlook by HSBC.



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