Buy Nvidia stock recommended ahead of earnings, BIDU downgraded to Market Perform

From Investing.com: 2024-08-25 03:27:38

Evercore ISI analysts recommend buying Nvidia stock due to strong demand for systems, with CapEx increasing by 20% in Q2 2024. Concerns over Blackwell delays are deemed overdone, as past disruptions have had short-term impacts. Nvidia projected to capture 80% of value in parallel processing era.

MoffettNathanson initiates Apple coverage with Neutral rating, noting AI potential already priced in. AI strategy leverages trust of over one billion users, driving iPhone upgrade cycle. Concerns about AI lagging in the past have been alleviated by Apple’s WWDC announcement. Market anticipates and reflects developments in current stock price.

Edward Jones initiates coverage on AMD with Buy rating, citing potential growth catalysts like rising demand for data center infrastructure and Xilinx acquisition. Cross-selling opportunities with Xilinx products estimated to be worth $10 billion. Positive outlook not fully reflected in current share price, presenting attractive investment opportunity.

Bank of America double downgrades Silicon Motion to Sell, predicting limited growth post first-half upturn. Low exposure to AI and enterprise SSD compared to competitors hinders sales growth. Revenue primarily comes from NAND products, setting it apart from competitors. EPS estimates for second half of 2024 and 2025 lowered by approximately 20%.

Bernstein downgrades Baidu from Outperform to Market Perform, citing disruptions in Search results. Reduced clarity on future prospects and lowered Search growth expectations for second half of 2024 and 2025. AI Cloud and Robotaxi initiatives positive, but pressure on shares expected without Search revival. Price target lowered from $130 to $97.



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