Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Nvidia Climbs as Analyst Sees Continued Growth in Gaming

Stock MarketsJan 13, 2020 03:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com – Nvidia (NASDAQ:NVDA) climbed on Monday after an analyst upgraded his outlook on chipmaker on signs of ongoing growth in its gaming business.

Needham analyst Ari Shusterman upgraded Nvidia to hold from underperform, sending the chipmaker's shares up 3%.

"Gaming is showing signs of positive momentum as attach rates for ray tracing games have accelerated. Hyperscalers have also begun to spend again on AI workloads," Shusterman said.

The upgrade from Shusterman marked a turnaround from a year ago, when he raised concerns that Nvidia would experience slowing sales of consumer graphics cards and hyperscaler spending amid a global economic slowdown.

The then-bearish call, however, failed to materialize as Nvidia oversaw an "aggressive" channel refill, the analysts said.

Looking ahead to the first half of the year, the path for Nvidia is somewhat easier as it faces easy year-over-year comparisons, particularly in graphics and data center, he added.

Needham is not the only one on Wall Street touting growth for Nvidia's gaming business.

Benchmark analyst Ruben Roy recently increased the target price on Nvidia to $275 from $240 on expectations that the chipmaker will benefit from a "reacceleration of data center spending, coupled with an improving demand environment for GPUs in gaming end markets."

"Potential catalysts for Nvidia shares in 2020 include positive bias to estimates on contnued data center demand improvement, visibility into its 7nm product road map, and the closing of the pending Mellanox acquisition," Roy added.

Nvidia Climbs as Analyst Sees Continued Growth in Gaming
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Jon Benton
Jon Benton Jan 13, 2020 4:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Microsoft, Gamestop and others should be bench pressing more than their weight as new game console come into play !
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email