DA Davidson Upgrades Nvidia, Downgrades Apple Amid AI-Driven Market Shifts

DA Davidson analyst Gil Luria reshuffled ratings on two tech giants this week, elevating Nvidia to Buy while downgrading Apple to Neutral. The $210 price target on Nvidia implies 18.5% upside, fueled by unrelenting AI compute demand. Apple's $250 target suggests modest 8.68% growth potential as product innovation lags.

Nvidia's upgrade reflects its pole position in the AI infrastructure race. "The overwhelming growth in demand for compute is the only thing that matters," Luria noted, dismissing concerns about hyperscaler spending shifts and Chinese market volatility. The chipmaker's profits could surge 40% as enterprises scramble for GPU capacity.

Apple's demotion signals waning confidence in its post-iPhone roadmap. While neither stock carries direct cryptocurrency exposure, the analyst's compute-centric thesis mirrors blockchain infrastructure plays. AI and decentralized networks increasingly compete for similar high-performance hardware resources.