|Bid||179.05 x 400|
|Ask||179.10 x 300|
|Day's Range||184.21 - 189.42|
|52 Week Range||63.27 - 191.20|
|PE Ratio (TTM)||53.45|
|Dividend & Yield||0.56 (0.31%)|
|1y Target Est||N/A|
RBC Capital Markets chip analyst Mitch Steves this evening reiterates an Outperform rating on shares of Nvidia (NVDA), and a $205 price target, urging investors to “ignore the noise” about competitor Advanced Micro Devices (AMD) having apparently won some business with Nvidia customer Tesla Motors (TSLA). CNBC reported late this afternoon that AMD is working with Tesla to develop a chip for “A.I.” functions of a self-driving car. Tesla is already a customer of Nvidia’s. Noting that the report is thus far “unsubstantiated,” Steves concludes that Nvidia may no longer be the sole source of chips for Tesla, but that's okay because they can remain the “market leader” even as AMD picks up some share: Nvidia no longer the sole provider of chips).
Alphabet's Waymo subsidiary has been laser-focused on driverless cars for years -- and they've been quietly powered by Intel all along.
AMD rallied after hours on a report that it's working with Tesla on a custom AI chip, which could hurt Nvidia. Recent IPOs Veritone and Blue Apron also climbed.