NVIDIA's (NVDA) Turning Weakness Is A Surprise - Goldman Sachs

Goldman Sachs analyst, Toshiya Hari, reiterated his Buy rating on shares of NVIDIA (NASDAQ: NVDA) after gaming and datacenter weakness drive a miss in Q4. The company’s previous guidance had embedded a substantial decline in its Gaming business due to excess mid-range GPU channel inventory. The incremental shortfall is attributed to macro deterioration (China), lower than expected sales of new Turing GPUs and weakness in Datacenter spending.

The analyst stated "Relative to market expectations, we believe the weakness in Turing GPUs was incremental, while the miss in Gaming - although much more significant in its magnitude - and the pause in Datacenter were directionally consistent with recent concerns".

price target of $184.00

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $136.85 yesterday.

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