"Analyst Predicts Nvidia's 15% Stock Dip Amidst AI Disillusionment"

DA Davidson analysts have initiated coverage on Nvidia stock with a Neutral rating and a price target of $410, suggesting a 15% downside risk. They acknowledge Nvidia's leadership in accelerated computing but are cautious about the sustained hype in AI investments, predicting a potential "trough of disillusionment" for AI technology. Despite the transformative potential of generative AI, they expect a reversion to the trend line for Nvidia's growth within the next 2-6 quarters. Nvidia's stock has already seen a decline in early 2024 trading.