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Why Nvidia Stock Popped Again Today

4 years 10 months ago
What happened After taking a short breather on Friday, shares of graphics and AI semiconductors specialist Nvidia (NASDAQ: NVDA) resumed their inexorable march higher on Monday, shooting up 2.4% through 10:40 a.m. EST.
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2 Top Gaming Stocks to Watch in November

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The Great Recession of 2008-2009 is now a distant, almost forgotten memory for most investors, while those new to investing have only enjoyed a massive bull market (if you ignore last year's temporary plunge at the start of the pandemic).
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Better Buy: Nvidia vs. Advanced Micro Devices

4 years 10 months ago
Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) have been outstanding performers on the stock market so far this year, with shares of both tech giants beating the broader market by comfortable margins. Nvidia has turned out to be the better of the two stocks, as th
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Is This Hot IPO Worth Buying?

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There have been over 885 companies that have come public via initial public offering (IPO) in 2021 as of this writing, which can be hard to sift through. In the middle of the craze, it can be difficult to find the stocks that shine through as more than short-term picks.
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Why Nvidia Shares Marched Higher Again This Week

4 years 10 months ago
What happened Semiconductor pioneer Nvidia (NASDAQ: NVDA) has been on a tear this year with shares up more than 130% year to date. The company has put itself in the sweet spot as a key supplier for several tech trends, including the artificial intelligence (AI) movement, gaming,
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FAANG is Dead. Long Live MANAMANA

4 years 10 months ago
In 2013 Mad Money's Jim Cramer casually launched one of the more widely adopted business mnemonics in history, describing the Four Horsemen of Big Tech by the acronym FANG.
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Nvidia: Are Second-Hand GPU Sales Decoupling From Crypto?

4 years 10 months ago

Later this month, Nvidia (NVDA) will report its FQ3 results and heading into the print, Piper Sandler analyst Harsh Kumar has had concerns regarding Nvidia’s strongest segment – Gaming. Namely, with supply constraints to the fore, the analyst has been worried about how these will affect the segment’s growth prospects in what is a seasonally strong holiday quarter.

However, following an eBay scraping analysis - an automated method to find particular, bespoke information on a website – the analyst is “a bit more constructive on the segment.”

“Overall,” says Kumar, “The data suggests there could be a decoupling between Bitcoin prices and secondary market GPU price premiums.”

Bitcoin’s price recently surpassed and now hovers around May’s levels (dragging with it other cryptocurrencies), but most GPUs are still selling for between 1.5x and 2.5x MSRP (manufacturer’s suggested retail price), “well below” the 2.0x to 3.75x range when Bitcoin was previously at these levels back in May.

In fact, the premium to MSRP has more or less been the same for NVIDIA since Bitcoin began its recent ascent in early August (during the same time, AMD’s GPUs in the secondary market have risen but only moderately).

The stable second-hand GPU price is important as Kumar believes this could eliminate a sticking point for investors. “For NVIDIA specifically,” the 5-star analyst explained, “The impact of cryptocurrency on the gaming business has been a hang-up for some investors and hopefully removes some of the noise around the stock.”

If a decoupling really is at play, Kumar thinks Nvidia’s gaming GPUs will be able to meet “true gaming demand, instead of potentially being allocated to cryptomining.” This would go some way to easing the holiday season pressure in the current “supply constrained” environment.

Kumar’s renewed confidence is conveyed by a new price target - the figure moves from $225 to $260. However, NVDA stock has already accumulated gains of 96% over the past 12 months, bringing the shares 13% above Kumar’s target. (To watch Palm’s track record, click here)

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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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