《大行報告》華泰証券:英偉達(NVDA.US)新芯片Blackwell引領加速計算 目標價910美元
華泰証券發表報告指,英偉達(NVDA.US)行政總裁黃仁勛在GTC大會發表多款Blackwell芯片及相關平台並公布軟件進展,新芯片Blackwell提升訓練及推理速度,引領加速計算,但發表新產品當日未有推動股價上升,相信與新產品的性價比路線有關,投資者擔心蠶食高毛利產品的市場份額。GB200超級芯片計劃於今年稍後上市,已獲亞馬遜(AMZN.US)計劃採購2萬片,相信英偉達開始強調產品性價比,或者與競爭格局變化有關。
該行維持2025至2027三個財政年度,歸母淨利潤預測分別566億、701億及802億美元,根據歷史估值法給予2026財年預測市盈率約30倍,目標價 910美元,評級「買入」。
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