5 big analyst AI moves: Nvidia in a ‘bubble’ says hedge fund; Intel downgraded
) stock is in a “bubble” and the AI technology causing it is “overhyped,” according to a letter seen by the Financial Times.
Elliott also believes that AI has not yet delivered the significant productivity gains that were promised, stating that there are “few real uses” for AI currently, other than “summarising notes of meetings, generating reports and helping with computer coding.” The new price target implies a 24x multiple of the projected 2025 earnings per share , which is a 13% discount compared to Meta's peers and a 4% discount relative to the NASDAQ.
The rating cut was primarily driven by a weak Q3 outlook and ongoing profitability challenges expected to persist through the 2026 fiscal year.
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