Here are Thursday's biggest analyst calls: Nvidia, Apple, Tesla, Microsoft, Broadcom, Salesforce, Amazon, AMD & more

Wall Street analysts issued a mixed set of ratings, with upgrades for Leidos, Copart, and Brinker, alongside positive initiations for Ideaya Biosciences and Entergy. While major tech players like Salesforce, Nvidia, Amazon, and Microsoft saw reiterated bullish calls, Seaport downgraded Advanced Micro Devices to neutral, citing slowing AI accelerator progress. Notably, MoffettNathanson upgraded Apple to neutral from sell, reflecting resolving risks despite valuation concerns, contrasting with Morgan Stanley's continued overweight stance.

Analysis

Wall Street analyst sentiment is broadly positive, though targeted downgrades highlight growing differentiation within key sectors, particularly Artificial Intelligence. In AI, established leaders received continued support; Barclays sees 200bps of potential upside to consensus AWS revenue for Amazon, and BMO reiterated Microsoft as a top pick due to its cloud leadership and consistent execution. However, Seaport downgraded Advanced Micro Devices to Neutral, citing supply chain checks that indicate slowing progress in its AI accelerator business and challenges in meeting high expectations. This contrasts with Jefferies initiating Entergy with a Buy, positioning the utility as a prime beneficiary of AI-driven power demand with a projected 11-15% EPS CAGR through 2030. Elsewhere, sentiment on Apple is mixed; MoffettNathanson upgraded the stock to Neutral from Sell, acknowledging that risks are resolving but still viewing the valuation of over 30x forward earnings as 'too rich.' This is juxtaposed with Morgan Stanley's Overweight rating, which sees the upcoming iPhone launch as a potential positive catalyst against conservative growth expectations. Upgrades were also issued for Leidos, based on management confidence and strength in its Health and Defense portfolios, and Copart, where HSBC views volume softness as temporary and sees margin expansion as a driver. Wolfe Research's 'peer perform' rating on Tesla reflects near-term stability but flags an 'uncertain' and 'challenging fundamental backdrop' for 2026.

Key Decisions for Investors

• Investors should refine their AI exposure, as the uniform rally may be differentiating; while leaders like Amazon and Microsoft show continued strength, the downgrade of AMD on specific execution concerns suggests a need to scrutinize individual company progress against high market expectations.
• Consider second-order beneficiaries of the AI build-out, such as utility company Entergy, which Jefferies initiated as a 'best-positioned AI load play' with an expected 11-15% EPS CAGR, offering an alternative way to invest in the theme.
• For Apple, investors must weigh the valuation risk highlighted by MoffettNathanson against the potential for near-term catalysts like the iPhone launch to beat conservative expectations, suggesting a tactical rather than purely fundamental thesis may be at play.
• The neutral stance on Tesla, coupled with explicit warnings about an uncertain 2026 backdrop, warrants caution for long-term holders and suggests monitoring for signs of fundamental deterioration beyond the near term.
• The downgrade of AMD based on supply chain intelligence serves as a critical reminder to validate broad sector narratives with company-specific channel checks and data points.