Keep The NVIDIA (NVDA) Headlines In Perspective - Needham

Needham & Company analyst, Rajvindra Gill, reiterated his Buy rating on shares of NVIDIA (NASDAQ: NVDA) after the share price dropped 10% in 10 days from two negative headlines: 1 the Uber crash and 2) concern that Bitmain, a China-based ASIC supplier, is developing an ASIC that has the potential to hamper GPU demand for cryptocurrency.

The analyst stated "both events will have an immaterial financial impact to NVDA’s bottomline". "We believe NVDA generates $79-$151MM per quarter from cryptocurrency and even a significant decline, say 20-30%, would only have a $0.02-$0.05 EPS impact".

No change to the price target of $300.

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 $215.41 yesterday.

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