Canaccord Genuity Morning Coffee on Nvidia (NVDA): Chip, Chip, Hooray!
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Price: $14.40 -0.62%
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade NVDA Now!
Canaccord Genuity Morning Coffee on Nvidia (Nasdaq: NVDA): Chip, Chip, Hooray!
Nvidia posted strong second-quarter results and third-quarter revenue guidance as the chip maker benefits from its new graphics processor and its push into the mobile market. The company reported CQ2/12A (Jul) revenues and EPS of $1,044.3 million and $0.19, compared to consensus estimates of $1,007.7 million and $0.14 and Canaccord Genuity Technology Analyst Bobby Burleson’s estimates of $1,020.0 million and $0.14. Burleson believes healthy seasonality for GPU and ramping tablet demand for Tegra should allow Nvidia to deliver strong results through the end of the year, while continued 28nm constraints and a looming bundled LTE solution for smartphones conspire to create additional Tegra opportunities in C2013. Nvidia won spots for its Tegra chips in two of the highest-profile tablets to be launched in 2012. In June, Microsoft (Nasdaq: MSFT) unveiled its Surface tablet using Nvidia's Tegra chip, while Google (Nasdaq: GOOG) launched its Nexus 7 tablet, which also uses Tegra 3 and has had strong sales. The company guided the October quarter above consensus ($1,200.0 million at the midpoint vs. consensus of $1,094.8 million) with growth expected in GPU and Consumer. Management expects Kepler GPU sales will continue to be impacted by the 28nm supply issues. October's quater guidance implied GAAP EPS of $0.30 at the midpoint, above the consensus estimate of $0.22 and his estimate of $0.24.
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Nvidia posted strong second-quarter results and third-quarter revenue guidance as the chip maker benefits from its new graphics processor and its push into the mobile market. The company reported CQ2/12A (Jul) revenues and EPS of $1,044.3 million and $0.19, compared to consensus estimates of $1,007.7 million and $0.14 and Canaccord Genuity Technology Analyst Bobby Burleson’s estimates of $1,020.0 million and $0.14. Burleson believes healthy seasonality for GPU and ramping tablet demand for Tegra should allow Nvidia to deliver strong results through the end of the year, while continued 28nm constraints and a looming bundled LTE solution for smartphones conspire to create additional Tegra opportunities in C2013. Nvidia won spots for its Tegra chips in two of the highest-profile tablets to be launched in 2012. In June, Microsoft (Nasdaq: MSFT) unveiled its Surface tablet using Nvidia's Tegra chip, while Google (Nasdaq: GOOG) launched its Nexus 7 tablet, which also uses Tegra 3 and has had strong sales. The company guided the October quarter above consensus ($1,200.0 million at the midpoint vs. consensus of $1,094.8 million) with growth expected in GPU and Consumer. Management expects Kepler GPU sales will continue to be impacted by the 28nm supply issues. October's quater guidance implied GAAP EPS of $0.30 at the midpoint, above the consensus estimate of $0.22 and his estimate of $0.24.
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