Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

Wedbush still sees two threats to Nvidia stock

Wedbush Securities continues to see at least some threats to Nvidia Corporation (NASDAQ: NVDA) even after it issued extraordinarily strong outlook for its current quarter.

The dovish case for Nvidia stock

The semiconductor behemoth expects its revenue to come in at about $11 billion in its second financial quarter as Invezz reported here.

In comparison, analysts were at $7.17 billion only. Still, Wedbush’s Matthew Bryson said today on CNBC’s “Street Signs Asia”:

Cloud players are working on building their own silicon (Google, Amazon, Facebook). Those large customers looking to use their own silicon for some of their internal workloads could weigh on market.

The analyst currently has a $290 price target on Nvidia stock that suggests about a 25% downside from here.

Added competition could be a threat

In the first quarter, though, Nvidia noted a 38% hit to revenue from its gaming division on a year-over-year basis.

Wedbush Securities’ Matthew Bryson dubs competition particularly from the likes of Advanced Micro Devices Inc (NASDAQ: AMD) as a possible threat to Nvidia stock as well.

The other player who’s gotten some traction is AMD who, to date, has captured share in the supercomputing market. If [that] starts to percolate, AMD is the other one to watch out for here.

Earlier this month, AMD also reported its financial results for the first quarter that came in slightly better than expected. Shares of the California-based company are also trending up this morning on the back of Nvidia’s strong results.

The post Wedbush still sees two threats to Nvidia stock appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...


    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023