Yahoo Finance Today’s Research Reports on Stocks to Watch: NVIDIA and Advanced Micro Devices
NEW YORK, NY / ACCESSWIRE / December 13, 2017 / Chip makers NVIDIA and AMD saw losses on Tuesday after an analyst had a bearish outlook for graphic cards next year. Despite bitcoin rising and miners using graphic cards to mine for cryptocurrencies, Bitcoin has now reached a point where it is no longer economical to mine for it with graphic cards.
RDI Initiates Coverage on:
NVIDIA Corporation
http://www.rdinvesting.com/report/?ticker=NVDA
Advanced Micro Devices, Inc.
http://www.rdinvesting.com/report/?ticker=AMD
NVIDIA Corporation shares closed down nearly 2% yesterday on about 11.3 million shares traded. The stock hit the red after Susquehanna analyst Christopher Rolland wrote in a note that application-specific integrated circuits (ASICs) could become more important than graphics processing units (GPUs) in 2018. This is the same analyst who last month was also very optimistic about Nvidia and reiterated a "neutral" rating on the stock and increased his price target from $155 to $185. Recently the company reported its third-quarter earnings which saw revenue grow 18.2% quarter on quarter to $2.64 billion. Wall Street had been waiting for $2.37 billion. EPS of $1.33 was also way ahead of the $0.95 that analysts had expected. About the earnings beat, Rolland had said, “Expectations were high… and we have to hand it to them, execution was higher. Data Center is a bona fide juggernaut and strength in Gaming was surprising, particularly as we expect the real acceleration to come with Volta next year. Lastly, we think they easily beat guidance next quarter, which appears well below seasonal.” Shares of Nvidia have gained 80% this year so far.
Access RDI’s NVIDIA Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=NVDA
Advanced Micro Devices, Inc. shares closed down 2.56% on Tuesday with a little over 36 million shares traded. It was a grim day for AMD as well as its rival NVIDIA after an analyst indicated that application-specific integrated circuits (ASICs) could become more important than graphics processing units (GPUs) next year. Susquehanna analyst Christopher Rolland and his team wrote in a note, "Nvidia was in the right place at the right time." He then said, "However, our discussions with numerous thought leaders in the industry suggest ASICs may replace much of today's GPU infrastructure over time." Rolland believes that GPUs could become less useful for cryptocurrency mining next year as well. Shares have fallen over 12% this year so far.
Access RDI’s Advanced Micro Devices, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=AMD
Our Actionable Research on NVIDIA Corporation (NASDAQ: NVDA) and Advanced Micro Devices, Inc. (NASDAQ: AMD) can be downloaded free of charge at Research Driven Investing.
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