Only one analyst has a sell rating on Nvidia — and he says ‘it feels fantastic’

Core Viewpoint - Nvidia is facing skepticism from at least one analyst, Jay Goldberg, who believes the stock will underperform the sector despite widespread bullish sentiment among other analysts [1][2]. Group 1: Analyst Perspective - Jay Goldberg is the only analyst on Wall Street with a "sell" or "underperform" recommendation for Nvidia, while 60 out of 65 other analysts rate it as "buy" or "outperform" [1]. - Goldberg's thesis is that Nvidia has underperformed the AI sector since he began coverage on April 1, indicating a divergence from the broader market trend [2]. - He emphasizes that the semiconductor industry is cyclical and suggests that Nvidia's current stock levels may not be sustainable in the long term [4]. Group 2: Market Dynamics - The production capacity of Taiwan Semiconductor, which manufactures Nvidia's chips, is fully utilized, raising concerns about future growth potential for Nvidia [2]. - Goldberg warns that a market bubble may not peak until the last bearish sentiment turns bullish, indicating a potential risk for the entire market if Nvidia's stock continues to falter [3]. - The historical context of market downturns suggests that when bubbles burst, it can lead to significant declines across the entire market, not just in the sectors at the center of the bubble [2].