Broadcom Inc. (NASDAQ:AVGO) faces a downgrade despite its OpenAI partnership, with analyst James Foord questioning its premium valuation compared to Nvidia. Similarly, Nebius Group N.V. (NASDAQ:NBIS) sees a rating reduction following its massive Microsoft contract, as The Techie suggests the positive news is already priced in.
Meanwhile, Intel Corporation (NASDAQ:INTC) receives an upgrade from a previous Strong Sell rating as government intervention provides a lifeline, though analyst Rick Orford remains cautious about the chipmaker’s long-term prospects. Elsewhere, contrarian views emerge on Tesla (TSLA) with Deep Value Investing shifting from bear to believer based on the company’s $1T compensation plan.
Upgrades
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Intel Corporation (NASDAQ:INTC): Upgrade Strong Sell to Hold by Rick Orford. The analyst cites the $8.9B U.S. government stake as providing stability despite persistent fundamental challenges.
“The Trump administration invested $8.9 billion in Intel common stock, and this gives the government a roughly 10% stake in the chipmaker. By far, this is one of the most significant interventions in American industrial policy in recent years… My Hold rating comes down to the fact that Intel is too important to fail but too troubled to buy.”
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Upstart Holdings, Inc. (NASDAQ:UPST): Upgrade Hold to Buy by Juxtaposed Ideas. The analyst highlights strengthening performance metrics, growing profitability, and accelerating growth as key factors supporting the upgraded rating.
“UPST’s strong performance metrics and growing profitability support my upgraded Buy rating, despite the ongoing rally since April 2025, aided by the raised FY2025 guidance… Combined with the improving macro trends and promising performance metrics above, we believe that UPST is likely to continue outperforming moving forward while being well supported along its new uptrend line.”
Downgrades
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Broadcom Inc. (NASDAQ:AVGO): Downgrade Buy to Sell by James Foord. The analyst cites valuation concerns, particularly how Broadcom now trades at higher multiples than Nvidia despite slower growth and lower profitability.
“Broadcom now trades at richer multiples than Nvidia, and I just can’t see why. By almost any valuation metric, Broadcom is more expensive, including forward PE, forward PEG and EV/EBITDA. And yet, Broadcom isn’t more profitable, and it hasn’t grown more than Nvidia, and it’s not expected to grow more than Nvidia.”
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Nebius Group N.V. (NASDAQ:NBIS): Downgrade Buy to Sell by The Techie. Despite the $17.4B Microsoft contract validating Nebius as a credible hyperscale AI infrastructure provider, the analyst believes the current valuation prices in years of outsized growth.
“Nebius is now trading at valuation multiples way above the sector norms. There’s both the hype and risk embedded in its growth story. Its forward price-to-sales ratio sits at 27.54, compared to a sector median of just 3.25. It’s a staggering 747% premium… At these stretched valuation multiples, any delivery delays, any margin compression, or pullback in AI demand could mean a re-rating.”