Nvidia: share's weakness a buy opportunity, Jefferies says
(CercleFinance.com) - Jefferies recommends investors buy Nvidia shares, with a target price of 320 dollars, as the chipmaker share has fallen over 4% today after "solid" Q2 results, announcing a guidance that fell short of the consensus.
The broker points out that gaming graphic processors, or GPUs, sales slowed in the past quarter, even though they still increased by 52%, something that is typical ahead of new platform launches.
Indeed, Jefferies expects the company to launch its next generation GPU platform in the third quarter, which it anticipates to be a tailwind over the next 12-18 months.
"We highlight that the last two platform launches produced 41% and 52% revenue growth over the four quarters that followed," the broker, seeing any weakness in the share price as a "buying opportunity."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The broker points out that gaming graphic processors, or GPUs, sales slowed in the past quarter, even though they still increased by 52%, something that is typical ahead of new platform launches.
Indeed, Jefferies expects the company to launch its next generation GPU platform in the third quarter, which it anticipates to be a tailwind over the next 12-18 months.
"We highlight that the last two platform launches produced 41% and 52% revenue growth over the four quarters that followed," the broker, seeing any weakness in the share price as a "buying opportunity."
Copyright (c) 2018 CercleFinance.com. All rights reserved.