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2021-11-14
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Nvidia Stock Is Downgraded. What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了别人看不到的什么？</blockquote>
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What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了别人看不到的什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166434417","media":"Barrons","summary":"Nvidia was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its","content":"<p>Nvidia was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its price target for the stock and remains upbeat on the company.</p><p><blockquote>韦德布什证券 (Wedbush Securities) 周五下调了英伟达的评级，尽管这家经纪商和投资银行提高了该股的目标价，并对该公司保持乐观。</blockquote></p><p> So, why the downgrade?</p><p><blockquote>那么，为什么要降级呢？</blockquote></p><p> It’s a problem of valuation, according to Wedbush analyst Matt Bryson, who downgraded Nvidia (ticker: NVDA) from Outperform to Neutral even as he raised his target price on the shares from $220 to $300. Nvidia stock closed at $303.90 Thursday.</p><p><blockquote>Wedbush 分析师马特-布赖森（Matt Bryson）认为，这是一个估值问题，他将英伟达（股票代码：NVDA）的评级从跑赢大盘下调至中性，尽管他将该股目标价从 220 美元上调至 300 美元。英伟达股价周四收于 303.90 美元。</blockquote></p><p> “While typically we would want to tie a rating change to some sort of negative catalyst; frankly there is none. Conditions rather have only improved for Nvidia over the past three months,” Bryson said.</p><p><blockquote>“虽然通常情况下，我们希望将评级变化与某种负面催化剂联系起来，但坦率地说，根本没有。在过去的三个月里，英伟达的处境只会有所改善，”布赖森说。</blockquote></p><p> “We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.”</p><p><blockquote>“我们只是找不到一种方法来证明英伟达的目标价高于其目前的交易价格。”</blockquote></p><p> The downgrade from Wedbush may have clouded investor sentiment on Nvidia, which saw its shares fall as much as 2.5% before paring losses to move 0.2% higher Friday. The stock has surged 47% in the past month alone and is up more than 130% in 2021. The company recently pushed past Warren Buffett’s Berkshire Hathaway (BRK.A and BRK.B) as the seventh most valuable U.S. company by market capitalization.</p><p><blockquote>韦德布什的评级下调可能会给英伟达的投资者情绪蒙上阴影，该公司股价下跌 2.5%，随后在周五止跌回升至上涨 0.2%。该股仅在过去一个月就飙升了 47%，2021 年将上涨超过 130%。该公司最近超越沃伦-巴菲特（Warren Buffett）的伯克希尔-哈撒韦公司（BRK.A 和 BRK.B），成为美国市值第七高的公司。</blockquote></p><p> Earlier this week, Nvidia got a boost from a number of upwards-revised estimates, with investment bank Oppenheimer hiking its target price on Nvidia stock by 49% to $350.</p><p><blockquote>本周早些时候，英伟达受到多项上调预期的提振，投资银行奥本海默将英伟达股票的目标价上调了 49%，至 350 美元。</blockquote></p><p> Bryson’s logic doesn’t yield the same level of bullishness on the share price.</p><p><blockquote>布赖森的逻辑并没有给股价带来同样程度的看涨情绪。</blockquote></p><p> Wedbush has been using a multiple of 40x applied to Nvidia’s estimated future earnings to calculate a target price for the stock. But the shares have surged 50% since the company’s last earnings call, Bryson said, and were now trading at a multiple of around 55x Wedbush’s 2024 estimates.</p><p><blockquote>韦德布什一直在使用英伟达预计未来收益的 40 倍倍数来计算该股的目标价。但布赖森说，自公司上次发布财报看涨期权以来，该公司股价已飙升 50%，目前的市盈率约为韦德布什 2024 年预期的 55 倍。</blockquote></p><p> This means that the analysts would have to lift their multiple to around 67x to justify an Outperform rating, or, alternatively, double their sales growth assumptions for the next few years to continue to use a 40x multiple.</p><p><blockquote>这意味着分析师必须将其市盈率提高到 67 倍左右，以证明跑赢大盘评级的合理性，或者将未来几年的销售增长假设翻倍，以继续使用 40 倍的市盈率。</blockquote></p><p> “While we remain very bullish on both Nvidia’s near-term prospects and longer-term opportunities (particularly around AI), we simply find ourselves unable to justify lifting our multiple to levels that would continue to justify an Outperform,” Bryson said. “We are stepping to the sidelines on Nvidia with our new Neutral rating.”</p><p><blockquote>“布赖森说：”虽然我们仍然非常看好英伟达的近期前景和长期机遇（尤其是在人工智能领域），但我们发现自己无法证明将市盈率提高到继续跑赢大盘的水平是合理的。“我们对英伟达的新中性评级是在边缘化。”</blockquote></p><p> Nvidia—which will report earnings next Wednesday—is primarily a maker of graphics processing units (GPUs), which were originally designed for applications in gaming and film. Increasingly, GPUs are used in high-performance computing applications, such as running data centers and powering artificial intelligence (AI).</p><p><blockquote>Nvidia 将于下周三公布财报，主要是一家图形处理单元 (GPU) 制造商，GPU 最初是为游戏和电影应用而设计的。GPU越来越多地用于高性能计算应用，例如运行数据中心和为人工智能（AI）提供动力。</blockquote></p><p> Bryson said that “unprecedented demand” for data center and client offerings meant Nvidia was likely to beat Wall Street’s expectations when it reports earnings and would probably raise its future guidance. The analysts added that the company’s continued work in building out its AI framework has helped cement its leadership in the space.</p><p><blockquote>布赖森说，对数据中心和客户端产品的 “前所未有的需求 ”意味着英伟达在公布财报时可能会超出华尔街的预期，并可能上调未来的指引。分析师补充说，该公司在构建人工智能框架方面的持续努力有助于巩固其在该领域的领导地位。</blockquote></p><p> The Santa Clara, Calif.-based company has also recently made a competitive push into the metaverse, launching platforms, software, and computing tools that will help enable the future of virtual worlds.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的公司最近还对元宇宙进行了竞争，推出了平台、软件和计算工具，这将有助于实现虚拟世界的未来。</blockquote></p><p> The metaverse, as well as the use of Nvidia chips in electric vehicles and self-driving vehicles, adds to a more ambitious view of the company’s future total addressable market, Bryson said.</p><p><blockquote>布赖森说，元宇宙以及英伟达芯片在电动汽车和自动驾驶汽车中的使用，都为该公司未来的总目标市场增添了更雄心勃勃的愿景。</blockquote></p><p> “New opportunities, in particular the metaverse and its graphics intensive requirements, have started to realize increased investment, a sign in our view that applications and datacenter/consumer hardware requirements are nearing,” the analyst added.</p><p><blockquote>“这位分析师补充说：”新的机遇，特别是元宇宙及其图形密集型需求，已经开始实现投资的增加，这是我们认为应用和数据中心/消费者硬件需求即将到来的一个迹象。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia Stock Is Downgraded. What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了别人看不到的什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Stock Is Downgraded. What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了别人看不到的什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-13 07:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nvidia was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its price target for the stock and remains upbeat on the company.</p><p><blockquote>韦德布什证券 (Wedbush Securities) 周五下调了英伟达的评级，尽管这家经纪商和投资银行提高了该股的目标价，并对该公司保持乐观。</blockquote></p><p> So, why the downgrade?</p><p><blockquote>那么，为什么要降级呢？</blockquote></p><p> It’s a problem of valuation, according to Wedbush analyst Matt Bryson, who downgraded Nvidia (ticker: NVDA) from Outperform to Neutral even as he raised his target price on the shares from $220 to $300. Nvidia stock closed at $303.90 Thursday.</p><p><blockquote>Wedbush 分析师马特-布赖森（Matt Bryson）认为，这是一个估值问题，他将英伟达（股票代码：NVDA）的评级从跑赢大盘下调至中性，尽管他将该股目标价从 220 美元上调至 300 美元。英伟达股价周四收于 303.90 美元。</blockquote></p><p> “While typically we would want to tie a rating change to some sort of negative catalyst; frankly there is none. Conditions rather have only improved for Nvidia over the past three months,” Bryson said.</p><p><blockquote>“虽然通常情况下，我们希望将评级变化与某种负面催化剂联系起来，但坦率地说，根本没有。在过去的三个月里，英伟达的处境只会有所改善，”布赖森说。</blockquote></p><p> “We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.”</p><p><blockquote>“我们只是找不到一种方法来证明英伟达的目标价高于其目前的交易价格。”</blockquote></p><p> The downgrade from Wedbush may have clouded investor sentiment on Nvidia, which saw its shares fall as much as 2.5% before paring losses to move 0.2% higher Friday. The stock has surged 47% in the past month alone and is up more than 130% in 2021. The company recently pushed past Warren Buffett’s Berkshire Hathaway (BRK.A and BRK.B) as the seventh most valuable U.S. company by market capitalization.</p><p><blockquote>韦德布什的评级下调可能会给英伟达的投资者情绪蒙上阴影，该公司股价下跌 2.5%，随后在周五止跌回升至上涨 0.2%。该股仅在过去一个月就飙升了 47%，2021 年将上涨超过 130%。该公司最近超越沃伦-巴菲特（Warren Buffett）的伯克希尔-哈撒韦公司（BRK.A 和 BRK.B），成为美国市值第七高的公司。</blockquote></p><p> Earlier this week, Nvidia got a boost from a number of upwards-revised estimates, with investment bank Oppenheimer hiking its target price on Nvidia stock by 49% to $350.</p><p><blockquote>本周早些时候，英伟达受到多项上调预期的提振，投资银行奥本海默将英伟达股票的目标价上调了 49%，至 350 美元。</blockquote></p><p> Bryson’s logic doesn’t yield the same level of bullishness on the share price.</p><p><blockquote>布赖森的逻辑并没有给股价带来同样程度的看涨情绪。</blockquote></p><p> Wedbush has been using a multiple of 40x applied to Nvidia’s estimated future earnings to calculate a target price for the stock. But the shares have surged 50% since the company’s last earnings call, Bryson said, and were now trading at a multiple of around 55x Wedbush’s 2024 estimates.</p><p><blockquote>韦德布什一直在使用英伟达预计未来收益的 40 倍倍数来计算该股的目标价。但布赖森说，自公司上次发布财报看涨期权以来，该公司股价已飙升 50%，目前的市盈率约为韦德布什 2024 年预期的 55 倍。</blockquote></p><p> This means that the analysts would have to lift their multiple to around 67x to justify an Outperform rating, or, alternatively, double their sales growth assumptions for the next few years to continue to use a 40x multiple.</p><p><blockquote>这意味着分析师必须将其市盈率提高到 67 倍左右，以证明跑赢大盘评级的合理性，或者将未来几年的销售增长假设翻倍，以继续使用 40 倍的市盈率。</blockquote></p><p> “While we remain very bullish on both Nvidia’s near-term prospects and longer-term opportunities (particularly around AI), we simply find ourselves unable to justify lifting our multiple to levels that would continue to justify an Outperform,” Bryson said. “We are stepping to the sidelines on Nvidia with our new Neutral rating.”</p><p><blockquote>“布赖森说：”虽然我们仍然非常看好英伟达的近期前景和长期机遇（尤其是在人工智能领域），但我们发现自己无法证明将市盈率提高到继续跑赢大盘的水平是合理的。“我们对英伟达的新中性评级是在边缘化。”</blockquote></p><p> Nvidia—which will report earnings next Wednesday—is primarily a maker of graphics processing units (GPUs), which were originally designed for applications in gaming and film. Increasingly, GPUs are used in high-performance computing applications, such as running data centers and powering artificial intelligence (AI).</p><p><blockquote>Nvidia 将于下周三公布财报，主要是一家图形处理单元 (GPU) 制造商，GPU 最初是为游戏和电影应用而设计的。GPU越来越多地用于高性能计算应用，例如运行数据中心和为人工智能（AI）提供动力。</blockquote></p><p> Bryson said that “unprecedented demand” for data center and client offerings meant Nvidia was likely to beat Wall Street’s expectations when it reports earnings and would probably raise its future guidance. The analysts added that the company’s continued work in building out its AI framework has helped cement its leadership in the space.</p><p><blockquote>布赖森说，对数据中心和客户端产品的 “前所未有的需求 ”意味着英伟达在公布财报时可能会超出华尔街的预期，并可能上调未来的指引。分析师补充说，该公司在构建人工智能框架方面的持续努力有助于巩固其在该领域的领导地位。</blockquote></p><p> The Santa Clara, Calif.-based company has also recently made a competitive push into the metaverse, launching platforms, software, and computing tools that will help enable the future of virtual worlds.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的公司最近还对元宇宙进行了竞争，推出了平台、软件和计算工具，这将有助于实现虚拟世界的未来。</blockquote></p><p> The metaverse, as well as the use of Nvidia chips in electric vehicles and self-driving vehicles, adds to a more ambitious view of the company’s future total addressable market, Bryson said.</p><p><blockquote>布赖森说，元宇宙以及英伟达芯片在电动汽车和自动驾驶汽车中的使用，都为该公司未来的总目标市场增添了更雄心勃勃的愿景。</blockquote></p><p> “New opportunities, in particular the metaverse and its graphics intensive requirements, have started to realize increased investment, a sign in our view that applications and datacenter/consumer hardware requirements are nearing,” the analyst added.</p><p><blockquote>“这位分析师补充说：”新的机遇，特别是元宇宙及其图形密集型需求，已经开始实现投资的增加，这是我们认为应用和数据中心/消费者硬件需求即将到来的一个迹象。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nvidia-stock-downgrade-metaverse-51636725065?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.barrons.com/articles/nvidia-stock-downgrade-metaverse-51636725065?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166434417","content_text":"Nvidia was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its price target for the stock and remains upbeat on the company.\nSo, why the downgrade?\nIt’s a problem of valuation, according to Wedbush analyst Matt Bryson, who downgraded Nvidia (ticker: NVDA) from Outperform to Neutral even as he raised his target price on the shares from $220 to $300. Nvidia stock closed at $303.90 Thursday.\n“While typically we would want to tie a rating change to some sort of negative catalyst; frankly there is none. Conditions rather have only improved for Nvidia over the past three months,” Bryson said.\n“We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.”\nThe downgrade from Wedbush may have clouded investor sentiment on Nvidia, which saw its shares fall as much as 2.5% before paring losses to move 0.2% higher Friday. The stock has surged 47% in the past month alone and is up more than 130% in 2021. The company recently pushed past Warren Buffett’s Berkshire Hathaway (BRK.A and BRK.B) as the seventh most valuable U.S. company by market capitalization.\nEarlier this week, Nvidia got a boost from a number of upwards-revised estimates, with investment bank Oppenheimer hiking its target price on Nvidia stock by 49% to $350.\nBryson’s logic doesn’t yield the same level of bullishness on the share price.\nWedbush has been using a multiple of 40x applied to Nvidia’s estimated future earnings to calculate a target price for the stock. But the shares have surged 50% since the company’s last earnings call, Bryson said, and were now trading at a multiple of around 55x Wedbush’s 2024 estimates.\nThis means that the analysts would have to lift their multiple to around 67x to justify an Outperform rating, or, alternatively, double their sales growth assumptions for the next few years to continue to use a 40x multiple.\n“While we remain very bullish on both Nvidia’s near-term prospects and longer-term opportunities (particularly around AI), we simply find ourselves unable to justify lifting our multiple to levels that would continue to justify an Outperform,” Bryson said. “We are stepping to the sidelines on Nvidia with our new Neutral rating.”\nNvidia—which will report earnings next Wednesday—is primarily a maker of graphics processing units (GPUs), which were originally designed for applications in gaming and film. Increasingly, GPUs are used in high-performance computing applications, such as running data centers and powering artificial intelligence (AI).\nBryson said that “unprecedented demand” for data center and client offerings meant Nvidia was likely to beat Wall Street’s expectations when it reports earnings and would probably raise its future guidance. The analysts added that the company’s continued work in building out its AI framework has helped cement its leadership in the space.\nThe Santa Clara, Calif.-based company has also recently made a competitive push into the metaverse, launching platforms, software, and computing tools that will help enable the future of virtual worlds.\nThe metaverse, as well as the use of Nvidia chips in electric vehicles and self-driving vehicles, adds to a more ambitious view of the company’s future total addressable market, Bryson said.\n“New opportunities, in particular the metaverse and its graphics intensive requirements, have started to realize increased investment, a sign in our view that applications and datacenter/consumer hardware requirements are nearing,” the analyst added.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":4710,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/873348649"}
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