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Fly News Breaks for March 20, 2017
Mar 20, 2017 | 09:06 EDT
BofA/Merrill analyst Vivek Arya NVIDIA's fundamentals remain solid, despite the recent pullback from recent highs, saying the Ti gaming card sold out in seasonally soft period despite a premium price-point, Pascal gamecard penetration will benefit from installed base refresh and an expected increase in gaming laptops, reports indicate Nintendo plans to double Switch console units versus original plan, adding $320-$400M in incremental revenue this year, and announcements with Paccar, Bosch, Audi and others suggest NVIDIA will capture $2-$3B in revenues over the next 3-4 years. Arya rates NVIDIA a Buy with a $125 price target and a top largecap pick.
News For NVDA From the Last 2 Days
Mar 23, 2017 | 13:16 EDT
Micron (MU) is scheduled to report results of its fiscal second quarter after the market close on March 23, with a conference call scheduled for 4:30 pm ET. What to watch for: 1. EPS, REVENUE CONSENSUS UP SINCE MS CONFERENCE: On March 2, Micron said at the Morgan Stanley Technology Conference that it had raised its second quarter earnings per share guidance to 86c "plus or minus a few cents" from its previous view of 58c-68c and changed its revenue guidance for the quarter to $4.65B plus or minus $50M from its previous view of $4.35B-$4.7B. Analysts at the time expected the company to report Q2 EPS of 66c on revenue of $4.55B, but those figures have since risen to 85c and $4.64B, respectively. 2. CEO DURCAN TO RETIRE: Early last month, Micron announced the upcoming retirement of chief executive officer Mark Durcan. At the time, the company said that the board of directors formed a special committee to oversee a succession process and has initiated a search for viable candidates. The board had not established a timeframe for such a process and plans to conduct a deliberate review of candidates, the company said. Durcan will continue to lead Micron as CEO during the vetting process. 3. GARTNER PC SHIPMENTS: Global PC shipments amounted to 72.6M units in the fourth quarter of 2016, a 3.7% slip from the fourth quarter of the previous year, Gartner said in a preliminary results report in mid-January. For the year, 2016 PC shipments totaled 269.7M units, a 6.2% slide from the prior year. Micron is among publicly traded companies in PCs and PC components, along with Lenovo (LNVGY), HP Inc. (HPQ), Apple (AAPL), Intel (INTC), AMD (AMD), Seagate (STX), Western Digital (WDC), and NVIDIA (NVDA). 4. TOSHIBA CHIP UNIT: In early February, Nikkei Asian Review reported that Micron had submitted a bid to acquire a stake in Toshiba's (TOSBF) memory chip business. SK Hynix and Western Digital also submitted offers, the report said at the time. A week later, Bloomberg reported that Toshiba was considering delaying the potential stake sale and could start discussions with new bidders in addition to those already engaged in talks, the report said at the time.
Mar 23, 2017 | 09:37 EDT
Intel (INTC) has cut prices for several of its previous-generation processors amid the launch of new processors by it and AMD (AMD) while NVIDIA (NVDA) has lowered prices for its GTX 1060, 1070 and 1080 graphics cards, DigiTimes said. Motherboard demand is unlikely to pick up in the second quarter, according to DigiTimes, citing sources from the upstream supply chain. Reference Link
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