AI芯片垄断地位动摇？英伟达股价月内下跌14%，市值蒸发超7000亿美元

Core Viewpoint - Concerns are growing regarding NVIDIA's potential loss of its dominant position in the AI computing chip market, leading to a significant decline in its stock price over the past month [1][4]. Group 1: Stock Performance and Market Sentiment - NVIDIA's stock price dropped by 2.6% on November 26, following a report indicating that Alphabet's AI processors are gaining market share [1]. - Since the beginning of the month, NVIDIA's stock has fallen by 14%, resulting in a market capitalization loss of over $700 billion [1]. - The company's forward P/E ratio has decreased from approximately 34 times to 25 times, which is below the Bloomberg "Magnificent Seven" index average of about 30 times [4]. Group 2: Analyst Perspectives - Despite recent sell-offs, Wall Street analysts remain optimistic about NVIDIA's future, with 74 out of 80 analysts giving a buy rating [5][10]. - Analysts have raised profit expectations for the next fiscal year by 12% compared to the previous week [10]. Group 3: Competitive Landscape - NVIDIA faces increasing competition, particularly from AMD, which is expected to generate "hundreds of billions" in AI revenue by 2027 [8]. - Major tech companies, including Alphabet, Meta, Microsoft, and Amazon, are projected to spend over $400 billion on AI-related capital expenditures in the next four quarters, with a significant portion currently directed towards NVIDIA's chips [8]. Group 4: Financial Performance and Growth Potential - NVIDIA's revenue is expected to grow by 63% this year, significantly outpacing Meta's projected growth of 21% [7]. - Analysts believe that NVIDIA's growth potential justifies its current stock price, which may appear "relatively undervalued" [7].