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In spite of the light guidance provided with its FQ4 beat, Nvidia (NVDA +2.9%) finished higher;...
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Thursday, February 14, 7:15 PM ETIn spite of the light guidance provided with its FQ4 beat, Nvidia (NVDA +2.9%) finished higher; expectations were low going in thanks to the PC industry's woes. FQ4 Tegra sales +90% Y/Y (year-ago sales were weak) and now 19% of revenue; GPU sales +7% thanks to share gains from AMD. On the earnings call, Nvidia admitted competing in smartphones (against Qualcomm) is tough without an integrated baseband/app processor (expected in 2H), but was more positive about tablets. Needham has cut shares to Hold, citing opex growth and Tegra's challenges.
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