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Fly News Breaks for June 13, 2019
Jun 13, 2019 | 05:58 EDT
After hosting an investor meeting at the company's headquarters, Nomura Instinet analyst David Wong keeps a Neutral rating on Nvidia shares with a $147 price target. The gaming GPU market is coming out of two quarters of an inventory correction and the company expects gaming segment revenues to get back to "normalized" levels of about $1.4B in either the July or October quarter, Wong tells investors in a research note. The analyst thinks Nvidia likely has good visibility into channel inventory and as such, he considers it positive that the company now thinks that channel inventory is at appropriate levels. However, with the ongoing issues related to international trade, there is "substantial uncertainty" as to demand trends in the various electronic end markets, including the gaming end market, over the next few months, contends Wong.