Nvidia's (NVDA) stock has stumbled as investors grow concerned the AI demand hype may be slowing. Goldman Sachs lead analyst Toshiya Hari is still bullish on...
) stock has stumbled as investors grow concerned the AI demand hype may be slowing. Goldman Sachs lead analyst Toshiya Hari is still bullish on the stock for a couple of reasons. First, he says,"Demand for accelerated computing continues to be really strong," adding that it's more than hyperscalers looking to buy Nvidia's chips. Second, he thinks the company's competitive positive is still strong.
So we kind of appreciate why the stock has given back some I think the debate around is this sustainable into 2026 is a fair debate.But depending on how the outlook is into 26 what kind of multiple you apply to 25 numbers is kind of the key debate and interestingly, we were having a very similar debate 12 months ago in 2023 when the stock was sort of range bound, the back half of 23.
In the case of Google, it would be Google search but GCP which is external looking, they're still buying a boatload of NVIDIA GPUS and you can make the same case for Amazon. And then on the product side, you can't really compete effectively with the likes of a MD NVIDIA, you know, Qualcomm, so on and so forth.
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