Nvdia’s (NVDA) stock has been on fire this month.
JPMorgan strategist Mislav Matejka pours some cold water on the explosive move in the AI chipmaker in a new note on Monday.
The call: “We are sympathetic to continued outperformance of Mag-7, and reiterate our overweight on semiconductor names,” Matejka said. “However, we believe that overall market leadership will broaden and will not match last year’s behavior. In 2025, after first quarter softness, Nvidia rallied 120% over the following 6 months. The stock also saw weakness in the first quarter of this year and is up approximately 20% from the lows. While this is encouraging, we think the conditions for a repeat of last year’s hyper-concentrated rally are not in place.”
Link: https://finance.yahoo.com/news/will-nvidias-explosive-rally-end-soon-133429771.html