The global investment bank believes that the current valuations are at 7.2x FY24E P/B, 46.4x P/E. The valuations do not fully price in headwinds such as pressure on new business, said the note.
Nvidia CEO Jensen Huang’s reported departure rattled global markets, triggering concerns over the chipmaker’s leadership, AI investments and data-centre financing strategy. Nvidia shares tumbled, while
US stocks closed lower as Nvidia’s decline following CEO Jensen Huang’s departure outweighed a rally in energy shares. The S&P 500 fell 0.34%, the Nasdaq
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