AVGO Mar 2020 350.000 put

OPR - OPR Delayed Price. Currency in USD
82.90
0.00 (0.00%)
At close: 2:27PM EDT
Stock chart is not supported by your current browser
Previous Close82.90
Open82.90
Bid69.20
Ask71.90
Strike350.00
Expire Date2020-03-20
Day's Range82.90 - 82.90
Contract RangeN/A
Volume1
Open Interest1
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  • All Bets Are Off With the Nvidia Stock Rally
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    All Bets Are Off With the Nvidia Stock Rally

    Nvidia (NASDAQ:NVDA) stock has seen a nice bump since August. Shares have popped from a low of $148.77 on Aug. 15 to $180.24 at the close Sept. 17. With positive developments in the U.S.-China trade war and improving fundamentals for the GPU space, Nvidia's fortunes may be turning around.Source: michelmond / Shutterstock.com But is there enough left in the tank to send NVDA stock higher? Based on valuation, it seems most catalysts are priced in the stock. Nevertheless, NVDA sells at a discount to GPU rival Advanced Micro Devices (NASDAQ:AMD).So what's the verdict? Let's take a closer look at Nvidia stock, and see why now may not be the time to buy.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Key Developments Driving the Nvidia Stock PriceWeak GPU demand and the U.S.-China trade war. These two factors hammered Nvidia stock. But a turnaround in chip sales and optimism over a trade deal have mitigated these concerns. Improved investor sentiment is driving NVDA stock higher. The question is: Will it last?With regards to GPU demand, Nvidia's sales results for the past quarter show promise. For the quarter ending July 30, revenue rose from $2.2 billion to $2.6 billion quarter-over-quarter. Gaming sales rose 24% from the prior quarter, from $1.1 billion to $1.3 billion. But sales remain down year-over-year. Overall sales were $3.1 billion in the prior year's quarter, including gaming sales of $1.8 billion. Nvidia has a long ways to go before reaching the high water mark set in the prior year. * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars How about the U.S.-China trade war? Investors are optimistic, but corporate America remains bearish. The unpredictability of the trade war could continue to impact Nvidia's business. It could also impact an upcoming acquisition. As InvestorPlace's Tom Taulli wrote on Sept. 12, China could block Nvidia's proposed acquisition of Mellanox (NASDAQ:MLNX). The Mellanox deal is seen as a positive catalyst for NVDA. The deal would bolster Nvidia's data center business, and help it diversify away from GPUs.But what about artificial intelligence? The rise of AI could be Nvidia's saving grace. On Sept. 13, InvestorPlace's Jamie Johnson pointed out how Nvidia's automotive AI business saw sales grow 30% in the past quarter. AI has yet to reach critical mass, but in the next decade could emerge as a major industry. This would give Nvidia stock a clear pathway to growth.However, as seen below, this growth potential is clearly reflected in the valuation of NVDA stock. Does this mean shares are overvalued? Let's see how Nvidia's valuation compares to peers. NVDA Stock Remains OvervaluedDespite declining sales since 2018, Nvidia stock remains richly priced. The company's forward price-to-earnings ratio is 25.5. Nvidia's enterprise value/EBITDA is 40. But shares continue to trade at a discount to rival AMD. AMD stock trades at 28.3 times forward earnings, and has an EV/EBITDA ratio of 67.Does this mean Nvidia stock is undervalued? Possibly, but it could indicate AMD remains overvalued. Both stocks trade at premiums to broad-line chip makers like Intel (NASDAQ:INTC) and Broadcom (NASDAQ:AVGO). Intel's forward P/E is 11.6, and its EV/EBITDA ratio is 7.6. Broadcom trades at a forward P/E of 12.4, and a EV/EBITDA ratio of 14.3.As I have stated before, I do not understand the high premium assigned to GPU makers relative to broad-line chip makers. As seen from the global GPU glut, substantial sales growth is uncertain. Long term, I can easily see both NVDA and AMD trade at valuations similar to INTC and AVGO. Maybe not as cheap as Intel stock, but certainly at similar EV/EBITDA ratios as Broadcom. It's Tough To Predict Nvidia Stock's FutureAll bets are off with Nvidia stock. While the company has seen improvements in its overall business, sales remain down from the prior year. There's light at the end of the tunnel for the trade war, but uncertainty remains. Nvidia next announces results in November. The analyst community sees quarterly sales at around $2.9 billion. China could give their blessing to the Mellanox deal. If so, the deal could close at the end of 2019.So what's the play with Nvidia stock? I have been on the sidelines since July, and shares have traded sideways since. If the company can reach the high water mark set last year, shares should see material improvement. But until then, sideways trading between $150-$200 per share is likely. Continue to stay on the sidelines with Nvidia stock.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars * 5 Stocks to Buy With Great Charts * 5 Goldman Sachs Stocks to Buy with Over 20% Upside Potential The post All Bets Are Off With the Nvidia Stock Rally appeared first on InvestorPlace.

  • GlobeNewswire

    Broadcom Introduces the Industry’s Most Generous Complimentary Offering of Digital Business Operations Software

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  • Bloomberg

    Qualcomm Spends $1.15 Billion to Buy Joint Venture From TDK

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  • Dow Surpasses 27,000 on Friday
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  • Benzinga

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  • Broadcom: Second-Half Semiconductor Demand Bottoms
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    Broadcom (AVGO) stock fell as much as 1.9% in after-hours trading yesterday after the company reported mixed fiscal 2019 third-quarter earnings results.

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  • US STOCKS-Apple, Broadcom keep Wall Street gains in check
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    Losses in shares of U.S. technology majors Apple and Broadcom held the S&P 500 just under record levels on Friday, as traders balanced the latest indicators of an uncertain global growth outlook with perceived progress in Sino-U.S. trade relations. Broadcom Inc, among the world's biggest chipmakers, weighed on the tech-heavy Nasdaq with a 2.6% fall, after it said in results late on Thursday that demand for microchips had bottomed out and that a recovery was not yet on the cards.

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    SmileDirectClub, Cloudflare, Apple, Broadcom and Facebook are the companies to watch.

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    Reuters Videos

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    Wall Street closed mixed Friday with stocks trading in a narrow range. Strong retail sales data and easing U.S.-China trade tensions spurred investors, who bought more value stocks and rotated out of tech stocks. The Dow rose for an eighth straight session. But weakness in Apple and Broadcom shares dragged the Nasdaq down. The major indexes rose for a third straight week. Clear Harbor Asset Management CEO Aaron Kennon: SOUNDBITE: CLEAR HARBOR ASSET MANAGEMENT CEO, AARON KENNON (ENGLISH) SAYING: "The market observers have frankly been exhausted going into the end of the week here. We've head a lot going on in the geopolitical front. Nothing fundamentally new today." China's Xinhua News Agency reported Beijing would exempt some U.S. pork and soybeans from additional tariffs. That drove up shares of meat processor Tyson Foods. Broadcom shares dropped. The chipmaker's rising revenue missed analysts estimates for the third straight quarter. It said it wasn't clear when a recovery in demand for microchips would take place. That added to negative signals for Apple, whose shares were also hit by Goldman Sachs' move to cut its price target. Shares of Etsy rose for the fifth straight session. Wedbush Securities upgraded the online craft retailer to "outperform" from "neutral," saying free shipping, among other things, will help boost order values.