尽管需求强劲，但由于制造挑战导致供应受限，Blackwell的推出速度有所放缓。富兰克林邓普顿股权集团的组合经理Matt Cioppa表示：“我们预计Blackwell的需求仍然非常强劲，这可能会将英伟达的最终长期增长前景重新带回市场关注的焦点。”The focus of Jensen Huang's speech was the Blackwell chip, which is seen as NVIDIA's next major growth driver. This speech also tests the market's short-term sentiment and risk appetite for technology stocks. If NVIDIA's stock price falls or stagnates in the days following the speech, it could negatively impact market sentiment in January.
Jensen Huang is about to take the stage at the "Spring Festival Gala of Technology", CES, and investors have high hopes for this event. $NVIDIA (NVDA.US)$ They hope it can bring a new breakthrough for the stocks.
On Monday evening local time (10:30 AM Beijing time on Tuesday), NVIDIA CEO Jensen Huang will deliver a speech at the International Consumer Electronics Show (CES) in Las Vegas, with analysts believing that the focus of this speech will be on the Blackwell chip, which is seen as NVIDIA's next major growth driver. Additionally, Jensen Huang is also expected to announce the highly anticipated GeForce RTX 50 graphics card.
Despite strong demand, the launch speed of Blackwell has slowed due to manufacturing challenges resulting in limited supply. Matt Cioppa, portfolio manager at Franklin Templeton Equity Group, stated: "We expect Blackwell's demand to remain very strong, which may bring NVIDIA's long-term growth prospects back into the market's focus."
In the past six months, Jensen Huang's positive comments on the Blackwell chip have repeatedly boosted NVIDIA's stock price. In October, he referred to the demand for the chip as "crazy," and in November, he stated that the chip would ship in the current quarter, with demand being "very strong."
In 2024, NVIDIA's stocks rose by 171%, becoming $S&P 500 Index (.SPX.US)$ The largest single driver of the increase. So far this year, the stock has risen by 11%, with a Market Cap of nearly 3.66 trillion USD, expected to once again surpass. $Apple (AAPL.US)$ Becoming the largest company by Market Cap globally.
However, after the release of NVIDIA's Earnings Reports on November 20, the stock price briefly fell due to revenue not meeting Wall Street's expectations, which were higher than the average. By year-end, with the market's focus shifting to ASIC.$Broadcom (AVGO.US)$and$Marvell Technology (MRVL.US)$While other companies surged significantly, NVIDIA's stock price fell for four consecutive days after Broadcom's Earnings Reports, resulting in a Market Cap loss of over 200 billion dollars.
Analysts at Morgan Stanley, led by Joseph Moore, compared the rise of stocks like Broadcom to a 'wealth transfer' from NVIDIA. Moore stated that they remain Bullish on NVIDIA and anticipate that Jensen Huang's speech could be a 'positive event'. They believe that despite current supply constraints, the market focus will shift back to Blackwell chips by mid-year, which will drive income growth in the second half.
Jordan Klein, a technology industry expert at Mizuho Securities, pointed out that this speech is a test of the market's short-term sentiment and risk appetite for technology stocks. If NVIDIA's stock price declines or stagnates in the days following the speech, it could negatively impact market sentiment in January.
Emily Roland, co-chief investment strategist at John Hancock Investments, stated that while remaining optimistic about NVIDIA and other large technology stocks, more volatility is expected in 2025. She noted, 'At some point in 2025, there will be a 'show-me moment' where the story needs to be proven; valuation is clearly an issue, and it is important to pay attention to the extent of market expansion, even though the tailwinds for AI still exist.'
Editor/rice
