Wayne Duggan is a freelance investment strategy reporter with a focus on energy and emerging market stocks. Bank of America has a "buy" rating and $300 target for NVDA stock. Morgan has an "overweight" rating and $258 price target for Nvidia. "As gamers/developers demand/deliver more realism, GPU performance requirements will increase, which will continue to drive a mix-shift to higher cards," Arya says. Arya says Nvidia will soon start to benefit from its higher-priced next-generation chips and the shift in the gaming community to higher-end hardware.
"NVDA's typical two-year product release cadence suggests first Turing cards could be unveiled around the E3 gaming show in mid-June, with shipments starting July 2018," Arya says.Īrya says third-party GPU retailers have benefited from cryptocurrency-related shortages and sky-high prices in the past year. Up to this point, Nvidia has been mostly mum on Turing performance, pricing or release schedules, but that trend could change on Wednesday.īank of America analyst Vivek Arya says Turing card could hit the market this summer. Media reports have suggested that Nvidia's next-generation Turing graphics cards could provide a 20 to 50 percent performance boost for gamers compared to its current-generation Pascal cards. Morgan Stanley is anticipating Nvidia will beat consensus estimates for July quarter revenue by 6 percent.
"We think Nvidia can easily absorb this impact, with relatively string pent-up demand from gamers given recent shortages and likely a new product cycle at about quarter end." "There is more controversy than normal this quarter because of cryptocurrency likely rolling off, bringing an end to recent graphics card shortages," Moore says. Despite the uncertainties, Morgan Stanley analyst Joseph Moore is expecting a big quarter from Nvidia.
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