上一个季度前，Pacific Crest’s Michael McConnell 谈NVDA# Stock
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Nvidia to Beat FYQ1, But Watch out for AMD, Says Pacific Crest
By Tiernan Ray
Graphics chip titan Nvidia (NVDA), which is scheduled to report fiscal Q3
results tomorrow afternoon, after the closing bell, is on track to beat
consensus, writs Pacific Crest’s Michael McConnell, but he’s staying away
from the shares because the company has “peak GPU unit shares” and is set
to lose some of that to Advanced Micro Devices (AMD).
With consensus of $1.62 billion in revenue and 45 cents in EPS for the
quarter, McConnell thinks that the company can turn in $1.68 billion and 53
cents.
That’s based on the fact his “conversations with desktop graphics card
manufacturers” indicate that “desktop GPU card unit sales tracked at the
high end of expectations, up 30%, quarter over quarter versus expectations
of a 20% to 30%,” thanks to the company’s new “Pascal” graphics chip
architecture that saw its first full quarter of availability in the quarter.
“NVIDIA desktop GPU card partners had record quarterly revenue in Q3,
driven by ASP expansion of 35% to 40% q/q,” he writes.
But, McConnell, who has a Sector Weight rating on the shares, writes “we
remain on the sidelines,” because AMD is going to take some share at
computer original equipment makers (OEM) 。
Nvidia shares today are down $1.09, or 1.5%, at $70.07.
November 9, 2016, 1:38 P.M. ET
By Tiernan Ray
Graphics chip titan Nvidia (NVDA), which is scheduled to report fiscal Q3
results tomorrow afternoon, after the closing bell, is on track to beat
consensus, writs Pacific Crest’s Michael McConnell, but he’s staying away
from the shares because the company has “peak GPU unit shares” and is set
to lose some of that to Advanced Micro Devices (AMD).
With consensus of $1.62 billion in revenue and 45 cents in EPS for the
quarter, McConnell thinks that the company can turn in $1.68 billion and 53
cents.
That’s based on the fact his “conversations with desktop graphics card
manufacturers” indicate that “desktop GPU card unit sales tracked at the
high end of expectations, up 30%, quarter over quarter versus expectations
of a 20% to 30%,” thanks to the company’s new “Pascal” graphics chip
architecture that saw its first full quarter of availability in the quarter.
“NVIDIA desktop GPU card partners had record quarterly revenue in Q3,
driven by ASP expansion of 35% to 40% q/q,” he writes.
But, McConnell, who has a Sector Weight rating on the shares, writes “we
remain on the sidelines,” because AMD is going to take some share at
computer original equipment makers (OEM) 。
Nvidia shares today are down $1.09, or 1.5%, at $70.07.
November 9, 2016, 1:38 P.M. ET
