NVidia Stock Hit After Misses Revenue Targets, Cuts Guidance

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    Super Harley

    Graphic Chips maker NVidia shares plunged almost 20%…



    Nvidia Corp. (NASDAQ: NVDA) maintained by Goldman Sachs with Buy rating but removed Nvidia from it’s Conviction Buy list and lowered its target price to $200 from $283.


    Nvidia Corp. (NASDAQ: NVDA) Cut by B. Riley FBR to Neutral from Buy and lowered its price target to $190 from $240.


    NVidia even lowered guidance last month on what they called the Crypto headwinds and yet it is still worse than expected – looking at $ETH and $BTC collapse even further suggests this may well still be understated.


    Merrill Lynch reiterated NVDA Buy rating but lowered its price objective to $250 from $300.

    Analyst Vivek Arya calls Nvidia best-in-class for its core business with a crypto-reset.

    Disappointing results/outlook as excess channel inventory impact turned out to be much more severe ($700mn) that we thought ($300-$350mn). We are not expecting a quick recovery, and it could take 1-2 quarters for NVIDIA to regain its growth/execution credibility… Despite near term gaming headwinds, we remain confident in NVIDIA’s uniquely leverageable graphics platform and the long term potential of its 10x growth opportunities across artificial intelligence, cloud computing, autonomous cars, robotics, health care, and workstations. Although data center sales of $792 modestly missed consensus by 4%, YoY sales were +58%, and show no signs of slowing despite concerns re decelerating cloud capex.


    With #Bitcoin and NVidia Drilled Further today

    – Good to see Merrill Lynch (Above) After the fact reiterate $NVDA Buy rating BUT lowered its price objective to $250 from $300 – its at 148.90 ▼ 15.48 (-9.42%) right now #Hopeless

    Other cretins:

    BMO Capital Markets maintained its Market Perform rating but cut target price to $175 from $225.
    CFRA S&P maintained its Hold rating but cut target price to $200 from $280.
    Deutsche Bank maintained its Hold rating but cut target price to $190 from $260.
    Nomura – Instinet maintained its Neutral rating but cut target price to $200 from $225.

    Super Harley

    Nvidia bundles Battlefield V with GeForce RTX GPUs

    Nvidia wants RTX software running on your RTX hardware. Today NVDA nnounced that if you buy a GeForce RTX 2070, 2080, or 2080 Ti graphics card (or a system with one of those graphics cards (inside) between now (November 20) and January 7, you’ll get a free copy of Battlefield V with it.

    RTX is Nvidia’s branding for real-time ray tracing and other technologies enabled by dedicated RT and tensor core hardware inside its radical Turing GPUs. More than 25 games have pledged support for RTX in some fashion, but last week, Battlefield V became the first game to support real-time ray tracing via a prelaunch patch.

    BFV uses ray tracing to create more realistic dynamic reflections, though activating the technology can greatly affect frame rate. It’s still amazing that any ray tracing can run on consumer GPUs, however. Our primer on Microsoft’s DirectX Raytracing API—which underpins Nvidia’s RTX ray tracing features—explains why it’s such a big deal, and why real-time ray tracing has long been considered the Holy Grail for gaming graphics.

    Nvidia’s RTX graphics cards rule high-end traditional graphics too, though some more successfully than others. These GPUs start at $500 and only go up—way up—from there, so be sure to check out our GeForce RTX 2070 and RTX 2080 and 2080 Ti reviews before you decide which graphics card to grab with your game.

    If you decide to take the plunge, make sure you do so at a participating retailer if you want the free Battlefield V copy. Nvidia warns that it “cannot provide download codes and coupons for purchases made at non-participating retailers and e-tailers.” It’s a pretty good game!


    Super Harley

    NVida Announces At GTC China HGX-2 GPU-Accelerated Platform Gains Broad Adoption
    The newest adoptions announced today at GTC China include:[/b]

    Baidu and Tencent are using HGX-2 for a wide range of even more powerful AI services, both for their internal use and for their cloud customers.
    Inspur is China’s first to build an HGX-2 server. Its Inspur AI Super-Server AGX-5 is designed to solve the performance expansion problem of AI, deep learning and HPC.
    Huawei, Lenovo and Sugon announced that they have become NVIDIA HGX-2 cloud server platform partners.

    Previously announced HGX-2 support and adoption comes from leading global server makers, including Foxconn, Inventec, QCT, Quanta, Supermicro, Wistron and Wiwynn. Additionally, Oracle announced last month its plans to bring the NVIDIA HGX-2 platform to Oracle Cloud Infrastructure in both bare-metal and virtual machine instances, giving customers access to a unified HPC and AI computing architecture.


    Super Harley

    NVDA Gives Up Overnight Gap Up, Falls Negative

    NVidia rallied on the positive news opening up at $154.62, rose to a quick high of $155.30 but then fell to a low of $143.61 Before closing at $144.71 ▼ 4.37 (2.93%)


    Nvidia Corp. (NASDAQ: NVDA) started as Outperform with a $225 price target at Credit Suisse.

    Note Highlights

    1. Despite above-Street estimates, we model Gaming (53% Rev) declining y/y for the next 4 Qs, -31%, -26%, -23%, and -11% respectively, more than capturing excess inventory/crypto demise,
    2. Our “stress-test” FY20 EPS is still greater than $7.00, implying solid valuation support at $140 or 20x,
    3. We see continued strength in Data Center (26% Rev) with ML/AI – the structural thesis remains intact.
    4. And Pro-Visualization (9.5% Rev) is poised to enjoy accelerating growth with the launch of Turing-based Quadro RTX cards. Despite the near-term setback, we continue to see an at least 15% CAGR overall and a 30% CAGR for Data Center.
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