未知机构：今晚NV下跌找找原因如下1cowos下调JPM和TMTB都写了-20250304

Summary of Conference Call Notes Company and Industry Involved - The discussion primarily revolves around NVIDIA (NV) and the AI chip industry Core Points and Arguments - Stock Decline Reasons: NVIDIA's stock experienced a decline due to several factors, including a downgrade from Cowos, with reports from JPMorgan and TMTB indicating that both U.S. institutions and retail investors have acknowledged this, leading to a negative sentiment [1] - AI Chip Supply Tightening: There are rumors regarding a tightening of supply for H20 and other AI chips, suggesting that the expansion of AI applications is leading to stricter enforcement of regulations [2] - Profit Margin Concerns: DeepSeek's profit margin issues were mentioned over the weekend, although it was noted that there was minimal coverage from sell-side analysts in the U.S., with only a single report from Reuters and a minor mention from TMTB [3] - Market Reaction: Following a significant drop in computing power in the A-share market, the GS Asia team identified these issues as contributing factors to NVIDIA's stock performance [4] Other Important but Potentially Overlooked Content - Investor Sentiment: The overall sentiment among investors, both institutional and retail, appears to be influenced heavily by the downgrade and the tightening of AI chip supplies, indicating a cautious outlook for the sector [1][2] - Media Coverage: The lack of extensive media coverage on DeepSeek's profit margin issues may suggest a potential underestimation of the impact these issues could have on market perceptions [3]