Today's Research Reports on Stocks to Watch: Advanced Micro Devices and NVIDIA

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Accesswire 15-Aug-2017 8:20 AM
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NEW YORK, NY / ACCESSWIRE / August 15, 2017 / Nvidia came back roaring on Monday after suffering losses this past Friday that many on the Street thought was an overreaction to the company's second quarter financial results. Considering that the results were actually amazing, one analyst said that the dip was worth buying. Shares of AMD also closed up on Monday after the company's new Vega video cards were launched in competition against Nvidia and started to get reviews.
RDI Initiates Coverage on:
Advanced Micro Devices, Inc. https://ub.rdinvesting.com/news/?ticker=AMD
NVIDIA Corporation https://ub.rdinvesting.com/news/?ticker=NVDA
Advanced Micro Devices, Inc.'s shares closed up 4.33% on Monday, starting the week off in the green. The company's Vega 64 and Vega 56 video cards have arrived. The Vega line is AMD's attempt at taking attention away from rival Nvidia's 1080 card that costs $600. AMD is offering cheaper options. According to Jon Peddie Research, by the end of 2016, Nvidia had more than 70% of the discrete graphics market while AMD only had about 29%. A bunch of mixed reviews came in on the Vega line this week and traders were battling their emotions on the future of these cards.
Access RDI's Advanced Micro Devices, Inc. Research Report at: https://ub.rdinvesting.com/news/?ticker=AMD
Nvidia's market capitalization rose to $100.2 billion today from $92.8 billion on Friday. It reported net income of $1.7 billion on sales of $6.9 billion in fiscal 2017.NVIDIA Corporation shares closed in the green on Monday with a gain of 7.98%. The stock traded a little over 31 million shares compared to an average of about 22.5 million. It was a comeback for the stock that just had a big sell off this past Friday. Despite posting favorable financial quarterly results last week, shares plummeted. Analysts were quick to put "buy" ratings on the stock and one even said "buy the dip." Looks like traders listened. Canaccord Genuity analyst Matthew Ramsay was the one who wrote this in a note to clients. He also upped his price target on the stock from $180 to $190 and reiterated a "buy" rating. He wrote, "In addition to strong gaming sales, we believe new crypto-currency demand added up to $250M to the topline ($150M in OEM revenue and another bit of upside in GeForce cards) and while this demand will likely decline Q/Q, management believes NVIDIA is well positioned to serve the market long-term."
Access RDI's NVIDIA Corporation Research Report at: https://ub.rdinvesting.com/news/?ticker=NVDA
Our Actionable Research on Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NVDA) be downloaded free of charge at Research Driven Investing.
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