Nasdaq NVDA Nvidia

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Advanced Micro Devices (NASDAQ: AMD) took NVIDIA (NASDAQ: NVDA) by storm in the first calendar quarter of 2020, clocking nice market share growth in the discrete graphics cards space thanks to a couple of solid products that were launched last year.

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2020 has been a crazy year for investors, and the huge bear market that came in the first quarter got largely reversed by the strongest upward move in a quarter in more than 20 years. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq C

Just as the internet has changed how we can communicate, transact, consume, and produce, so will Augmented Reality (AR) and Virtual Reality (VR) improve, and in some respects, utterly transform our lives.

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NVIDIA (NASDAQ: NVDA) has long dominated the graphics processing unit (GPU) market. GPUs power the computing technology needed to play video games, and NVIDIA's gaming business generated revenue with an 11% compound annual growth rate (CAGR) over the past three years.

Back in 2014, AMD (NASDAQ: AMD) said the power efficiency of its mobile chips would improve 25-fold by 2020. It recently blew past that "25x20" goal with its "Renoir" Ryzen 4800H mobile chipsets, which boast a 31.7x increase in power efficiency over its "Kaveri" chipsets from 20

NVIDIA's (NASDAQ: NVDA) recent deal with Daimler unit Mercedes-Benz could provide some real acceleration for the IT company, particularly on its bottom line.

Earlier this week, Nvidia (NVDA) and Mercedes-Benz announced a joint venture to bring self-driving cars a step closer to mainstream adoption. Mercedes’ next generation of luxury vehicles, set for a 2024 launch, will come equipped with Nvidia’s DRIVE platform, giving the vehicle automated driving capabilities.

Needham analyst Rajvindra Gill believes the new initiative will put a hitherto less lauded segment of Nvidia’s business on a par with its two main revenue drivers.

“Along with Datacenter and Gaming, we view Automotive as a major long-term growth opportunity for NVDA, which we believe is the leader in the automotive SoC (system on a chip) space,” the 5-star analyst said.

Nvidia’s automotive segment already brings in between 6-7% of Nvidia’s overall revenue, but the new partnership, according to the analyst is “a game changer for their automotive business.”

“Unlike NVDA's prior engagements in the automotive space, its recent partnership with Mercedes is its first publicly announced full stack end-to-end partnership, which we believe paves the way for future full stack partnerships with other automotive OEMs,” Gill said.

Along with the ability to perform automated driving tasks, one of the more exciting aspects of the new computer powered cars will be the “over-the-air (OTA) software updates.” This feature will allow the vehicle to receive system upgrades automatically, while the owner will be able to purchase additional features, ADAS (advanced driver-assistance systems) applications and services.

The feature, according to Gill, can provide a “recurring revenue stream for NVDA.”

“For example,” the analyst explained, “if NVDA were to develop applications or services that would be purchased by the owner of the vehicle, the revenue from those applications would be split 50/50 between NVDA and Mercedes. The same goes if Mercedes were to develop an application or service based on NVDA's platform that they would offer to their end customers.”

No surprise to learn Gill keeps a Buy rating on Nvidia shares along with a $400 price target. The implication for investors? Upside of 9% from current level. (To watch Gill’s track record, click here)

Going by the Strong Buy consensus rating, the rest of Street is backing Nvidia, too. The rating is based on 27 Buys, 4 Holds and 1 Sell, and comes with a $383.81 price target attached. There’s a modest 5% upside in the cards, should the figure be met over the next few months. (See Nvidia stock-price forecast on TipRanks)

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InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Having pulled ahead in the race to develop a software-based vehicle operating system, U.S. electric car pioneer Tesla faces a new challenge from an alliance of German luxury carmaker Daimler and U.S. computer graphics specialist Nvidia.

The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday it had opened an investigation into 63,000 Tesla Model S cars after reports of media-control unit failures that led to the loss of the use of touchscreens.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Finnish network infrastructure veteran Nokia (NYSE: NOK) is bringing a next-generation radio access network (RAN) platform to market this year, followed by another generation in 2022. Early adopters of Nokia's 5G solutions need not worry -- the cloud-based Nokia 5G AirScale Clou

For the masses, it may still be many years before a daily commute or a long road trip is handled by a fully autonomous car. Nevertheless, tech companies and automakers are hard at work to make it a reality, and the first iteration of the technology may be closer than you think.