Wall Street Analyst’s Bearish Stance on Nvidia: Three Key Concerns

Nvidia (NVDA -2.79%) remains a market darling, commanding a dominant position in AI-optimized GPU production. Yet Jay Goldberg, a lone bear among bullish analysts, projects a 40% downside with a $100 price target—Wall Street's lowest. His skepticism centers on three fault lines in Nvidia's growth narrative.

First, China's trade restrictions threaten Nvidia's access to the world's fastest-growing AI market. Despite reported export deals with the U.S., regulatory friction could empower domestic chipmakers to erode Nvidia's foothold. Second, Goldberg questions the sustainability of Nvidia's 27x sales multiple as competition intensifies. Third, unproven adoption curves for agentic technologies—a key growth pillar—introduce execution risk.

The stock's 1,000% revenue surge over five years now faces a stress test. While the AI sector's projected 30% annual growth suggests runway, Goldberg's analysis warns that geopolitical and technological uncertainties may already be priced in at current valuations.