Two of the hottest stocks in the tech sector may have gotten a bit too hot. BMO Capital and Nomura have downgraded NVIDIA Corporation NVDA 0.58% to Sell and Reduce ratings, respectively.
In the past year, NVIDIA shares are up an incredible 604 percent, but the two firms believe the huge move in NVIDIA is too much, too fast.
Beyond Nvidia
Advanced Micro Devices, Inc. AMD 6.26% has also been on fire of late, up more than 230 percent in the past 12 months. In a new note this week, Deutsche Bank analyst Ross Seymore urged a cautious approach to the stock as attention shifts to the launch of the Ryzen processor family.
Based on the Cinebench 17 benchmark, AMD has demonstrated that its new processors outperform comparable products from Intel Corporation INTC 0.03% by between about 10 and 40 percent.
“AMD’s Ryzen launch has long been anticipated (see stock movement in the last six months) and today’s announcement did not disappoint as the company delivered competitive products both on price and performance,” Seymore explained.
“That said, we believe true execution must follow.”
Deutsche Bank is projecting…
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