NEW YORK, NY / ACCESSWIRE / October 10, 2017 / NVIDIA saw some gains on Monday after releasing an extensive driver update. Shares of Advanced Micro Devices also saw gains though there was no significant news from the company. Several analysts have been bullish on the company's products as well as on the outlook for the GPU demand for cryptocurrency in the third quarter.
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Advanced Micro Devices, Inc.
NVIDIA Corporation's shares closed up 2.26% on Monday with roughly 14 million shares traded. Yesterday the company released driver version 387.92 that features support for four Game Ready titles: Middle-earth: Shadow of War, The Evil Within 2, Forza Motorsport 7, and ARKTIKA.1 (VR). Along with the release is a 387 driver branch, bringing along feature updates such as Fast Sync under SLI and OpenGL 4.6. The update also addressed several bugs. The updated drivers can be accessed through the GeForce Experience Drivers tab or online at the NVIDIA driver download page. The technology company has been skyrocketing this past year with gains of over 177%.
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Advanced Micro Devices, Inc.'s shares closed up 1.81% on Monday with a little over 54 million shares traded. The nearly five decade's old company will be reporting its third quarter financial results on Tuesday, October 24th after the close. While many analysts have a "hold" rating on the stock, they do have some optimistic things to say about the company's products, David Wong, an analyst at Wells Fargo, has said, "AMD's EPYC server processors offer comparable performance to Intel's latest Skylake server processors in the two-way server space, up to the $4,000 price point." He also compared it to NVIDIA's GPU offerings and said, "AMD's Vega GPUs (graphics processing units) are comparable to NVIDIA's GPU offerings in the $379–$599 range." Mark Lipais, an analyst at Jefferies has a $19 price target on the stock and forecasts that the GPU demand for cryptocurrency miners would remain strong in 3Q17.
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