Baird下调英伟达评级至中性 目标价从500美元砍至200美元

美国券商 Baird 于11月11日下调英伟达（NVIDIA）股票评级，由买入降至中性，并把目标价从500美元大幅下调至200美元，降幅达60%。路透社报道说，Baird 给出的理由包括美国对华芯片销售限制带来的风险，以及超级智能（SI）支出可能放缓、进而影响市场对英伟达高端芯片的需求。

英伟达股价11月10日收于168.9美元，正迈向2025年3月以来最大的一周跌幅，围绕公司最高层人事的不确定性也给股价带来压力。Baird 分析师 Tristan Gerra 表示，在美国政府可能采取的行动、国会听证与相关调查的结论、风险渠道调整对营收的影响以及首席执行官任期等不确定性消除之前，他对英伟达持更谨慎的态度。Baird 还推迟发布其2027年数据中心预测，理由是能见度下降、供应受限，并预计大型云服务商2027年的超级智能（SI）支出增速将放缓至40%或更低。

华尔街其他机构同日也趋于谨慎：摩根士丹利把英伟达移出其半导体首选名单，但维持增持评级与300美元目标价。英伟达定于11月17日盘后公布第三季度业绩。周三盘中，英伟达股价一度上涨约5%，市场暂时未被评级下调吓退。

黄仁勋事件本身仍在发展：英伟达董事会此前已启动独立调查，黄仁勋已向员工承认对妻子不忠。自本站跟进此事以来，编辑部已致函英伟达媒体部门问询此事，截至本文发布尚未收到正式答复。本站将持续跟进官方动态。

关联：黄仁勋向员工承认对妻子不忠 英伟达董事会启动独立调查

网传黄仁勋妻子与女儿「公开信」均系编造 两人至今未公开表态

Baird Downgrades Nvidia to Neutral and Slashes Its Price Target to $200 From $500

U.S. brokerage Baird downgraded Nvidia on November 11, cutting its rating to Neutral from Buy and slashing its price target by 60 percent, to $200 from $500. Reuters reported that Baird cited growing risks from U.S. restrictions on chip sales to China and a potential slowdown in super intelligence (SI) spending that could weigh on demand for Nvidia's prized chips.

Nvidia shares closed at $168.9 on November 10 and are on track for their biggest weekly drop since March 2025, with uncertainty over the company's top leadership also weighing on the stock. Baird analyst Tristan Gerra said he was taking a more cautious stance until uncertainties clear around likely U.S. government action, congressional hearings and investigations, the revenue impact of near-term risk-channel adjustments, and the chief executive's tenure. Baird also delayed publishing its 2027 data-center forecasts, citing reduced visibility and supply constraints, and expects AI-era spending by large cloud companies to grow by about 40 percent or less in 2027.

Other Wall Street firms also turned more cautious the same day: Morgan Stanley removed Nvidia from its semiconductor Top Pick list while maintaining an Overweight rating and a $300 price target. Nvidia is scheduled to report third-quarter results after markets close on November 17. In midday trading on Wednesday, Nvidia shares rose about 5 percent as investors initially shrugged off the downgrade.

The Jensen Huang matter itself is still developing: Nvidia's board has launched an independent investigation, and Huang has acknowledged infidelity to his wife in a message to employees. Since GSM began following this matter, our newsroom has written to NVIDIA's media department to inquire about it and had not received a formal response as of publication. GSM will continue to follow official developments.

Related: Jensen Huang Admits Infidelity to Staff as Nvidia Board Launches Independent Investigation

Viral 'Open Letters' Attributed to Jensen Huang's Wife and Daughter Are Fabricated

来源：路透社

发布：GSM·美国（发布链接）

图片来源：图：英伟达创办人兼首席执行官黄仁勋（Jensen Huang）2026年4月30日在 Stanford 的肖像照（本图已预裁为 16:9）。Anderseidesvik 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: NVIDIA founder and CEO Jensen Huang at Stanford on April 30, 2026 (pre-cropped to 16:9). Photo by Anderseidesvik, CC BY-SA 4.0, via Wikimedia Commons.

GSM Global · 本篇英文版 English edition of this story

本频道最新更多 ›

Finning 第三季收入 30.36 亿加元增 7%：设备订单积压创纪录达 41 亿加元，每股收益 1.20 加元2026-11-11Volatus 航空航天第三季收入 1051 万加元环比增 24.9%：合同总价值约 1.017 亿加元，执行期至 2031 年2026-11-11

← 返回金融　全部新闻　关于我们