Seeking Alpha汇总多位作者对AMZN、SNDK、MRVL、ORI评级调整，缺少可交易新增事实

Bay Area Ideas has upgraded Amazon (AMZN) to Buy on accelerating AWS growth, while Esxeleryn Analytics has turned strongly bullish on Sandisk (SNDK), citing its disruptive high-bandwidth flash technology targeting AI memory bottlenecks. On the downgrade side, Deep Value Investing has moved Marvell Technology (MRVL) to Hold despite the company's expanded Google partnership, citing macro concerns. Meanwhile, Seeking Profits has downgraded Old Republic International (ORI) to Sell over persistent margin pressures and premium valuation.
Amazon.com (AMZN): Upgrade Hold to Buy by Bay Area Ideas. The analyst cites AWS posting its fastest growth in 18 quarters at 37%, with Q2 net sales growing 20% to $200.6 billion, while the forward P/E multiple sits at a historic discount signaling market mispricing.
"Given the fact that the company's fundamentals have strengthened considerably and that they are well positioned to benefit from continued AI tailwinds, I believe that this historically low valuation now provides an opportunity for investors."
Sandisk (SNDK): Upgrade Sell to Strong Buy by Esxeleryn Analytics. The analyst argues that Sandisk's high-bandwidth flash technology solves the AI inference memory-wall issue by providing 8x-16x the capacity of HBM for large KV caches, with validation showing significant cost and efficiency advantages.
"I am upgrading Sandisk stock (to Strong Buy) because I re-diagnosed and observed new developments in its business shift to become a new AI memory tech base that is targeting the AI compute bottleneck (memory)."
Marvell Technology (MRVL): Downgrade Buy to Hold by Deep Value Investing. While the analyst sees Marvell's expanded Google partnership as bullish and the company checking most fundamental boxes, an unfavorable macro tape and the stock's 58x forward earnings multiple warrant caution.
"I like the setup going into the print, and shares are cheaper now than they were back in mid-June. That said, I recently sold my earlier position, primarily due to an unfavorable macro tape. Company-wide, I still like the stock, and I wouldn't be surprised if I add this name to my portfolio later this year."
Old Republic International (ORI): Downgrade to Sell by Seeking Profits. The analyst points to ORI's low-risk, coinsurance-focused model resulting in higher combined ratios and thinner margins, with technology investments and reserve additions expected to keep expenses elevated through at least 2028.
"I last covered Old Republic in January, rating shares a “Hold,” given pressure on commercial trucking margins, and its 8% rally since then has lagged the market’s 10% gain. I view this positive but market-lagging return as consistent with my rating."