Today’s Research Reports on Stocks to Watch: Advanced Micro Devices and NVIDIA
NEW YORK, NY / ACCESSWIRE / January 19, 2018 / According to a Susquehanna Financial Group analyst, both AMD and NVIDIA benefited from more than $500 million in sales related to cryptocurrency Ethereum in the fourth quarter of 2017. Shares of ADM moved up over 2% while NVIDIA closed in the red.
RDI Initiates Coverage on:
Advanced Micro Devices, Inc.
https://rdinvesting.com/news/?ticker=AMD
NVIDIA Corporation
https://rdinvesting.com/news/?ticker=NVDA
Advanced Micro Devices, Inc. shares rose 2.38% yesterday on about 62 million shares traded. AMD moved north after an analyst had some positive remarks on the chip maker and said that the company is benefiting more from cryptocurrency then it is letting on. According to Christopher Rolland of Susquehanna Financial Group, he thinks both AMD and NVIDIA "likely benefited" from more than $500 million in Ethereum-related sales of their graphics-processing units in the fourth quarter of 2017. Both companies played down the sales in their quarterly earnings. Despite Ethereum dropping, Rolland thinks, "mining profitability remains among the highest in history." He said, "We believe the confluence of these factors portends upside to both AMD’s and NVDA's C4Q17 results (and perhaps 1Q18 guidance). However, we also note substantial longer-term risks for both companies as mining profitability may have induced 'false purchases' of more and higher-priced cards.” Rolland has a "neutral" rating on AMD and has lowered his price target from $15 to $13.
Access RDI's Advanced Micro Devices, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMD
NVIDIA Corporation shares closed down 0.12% yesterday on about 10.2 million shares traded. An analyst had some remarks about NVIDIA and AMD and the fact that the two Silicon Valley companies benefited more from Ethereum related sales than they admitted in the fourth quarter of 2017. NVIDIA as well as AMD have graphic cards that are used for mining cryptocurrencies such as Ethereum and bitcoin. Susquehanna Financial Group analyst Christopher Rolland wrote, "We believe the confluence of these factors portends upside to both AMD's and NVDA's C4Q17 results (and perhaps 1Q18 guidance). However, we also note substantial longer-term risks for both companies as mining profitability may have induced 'false purchases' of more and higher-priced cards." An article also revealed yesterday that the company may be closer to powering full blown self-driving cars. According to the company's Senior Director of Automotive, Danny Shapiro, "We're very close."
Access RDI's NVIDIA Corporation Research Report at:
https://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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