Nvidia Corporation (NVDA) - NASDAQ
  • Sep. 9, 2013, 4:07 PM
    • Pictures of the 7" Nvidia (NVDA +1.6%) tablet show both a 3,200 mAh and a 4,100 mAh battery. Also, an HDMI port is listed as a feature for a "premium" model.
    • The premium model will also have a stylus and built-in apps that can make use of it, as well as a 5MP rear camera with HDR support (likely made possible by the Chimera imaging tech found in Nvidia's Tegra 4 CPU).
    • Images suggest the tablets could be branded under the Tegra Note name. They'll enter a pretty crowded Android tablet market.
    • The announcement comes a week after Nvidia announced a needed high-profile Tegra 4 smartphone win: Xiaomi is using the Tegra 4 in a version of its flagship Mi3 Android phone to be sold by China Mobile for use on its TD-SCDMA 3G network. China Unicom and Telecom will sell Mi3 models using Qualcomm's Snapdragon 800 CPU.
    • Previous: Nvidia tablet comes into focus
    | Sep. 9, 2013, 4:07 PM | 2 Comments
  • Sep. 4, 2013, 6:01 PM
    • New pictures have emerged of a 7" Nvidia (NVDA) Android tablet, now believed to be called the Tegra Note. Like Samsung's Galaxy Note hardware, the device has a detachable stylus, and like Microsoft's Surface hardware, it also sports a removable cover that can double as a stand.
    • Engadget: "We're still left with the question of who the Tegra Note is for ... it's not certain whether this is a reference design or a consumer product."
    • Nvidia recently reported Tegra sales fell 49% Q/Q and 71% Y/Y in the July quarter, and estimated Tegra sales could fall by $200M-$300M in FY14 (ends Jan. '14) from FY13's $750M. Thus, the chipmaker could be willing to get creative in its efforts to boost Tegra demand.
    • In June, Nvidia announced it would begin licensing its GPU cores and "visual computing" IP to 3rd-party mobile chipmakers. There has been speculation Apple and/or Samsung could license them for use in their app processors.
    | Sep. 4, 2013, 6:01 PM | 1 Comment
  • Aug. 29, 2013, 5:01 PM
    • Worldwide PC shipments are expected to fall 9.7% in 2013, according to IDC. Today's figure represents the second time the research firm has slashed its projection, from -7.8% in May, and from an original -1.3% back in March.
    • Tablets are the main transgressor, IDC noted. And China and other developing economies, which were once healthy drivers of PC sales, have seen demand dry up at even faster rates than developed markets.
    • Cannibalization appears to favor the small, as IDC nudged its 2013 tablet forecast to 227.4M, from 229.3M previously. To blame? New smartphones with large screens and the release of wearable devices like smart watches.
    • The ever-dimming light at the end of the tunnel bodes poorly for MSFT, INTC, DELL, HPQ, STX, WDC, MU, AMD, and NVDA.
    • Previous: Global PC shipments fell 10.9% Y/Y in Q2 to 76M
    | Aug. 29, 2013, 5:01 PM | 14 Comments
  • Aug. 27, 2013, 12:09 PM
    • Digitimes reports the arrival of low-end desktop CPUs based on AMD's (AMD -4.3%) recently-launched (28nm) Kabini architecture has been pushed back to March '14 from 2H13. Moreover, the arrival of Beema, Kabini's successor (also 28nm), has been pushed back to 1H15 from 2H14.
    • The site also reports AMD's high-end Hawaii GPUs will launch at the end of September; that's in-line with recent reports. Hawaii is pivotal to AMD's efforts to take back high-end GPU share from Nvidia's (NVDA -1%) Kepler GPUs. Nvidia is expected to launch its next-gen Maxwell GPU line in Q1 2014, and might refresh its Kepler lineup later this year.
    • Digitimes reported last month the launch of AMD's Kaveri CPUs (based on the 28nm Steamroller architecture and aimed at mid-range/high-end PCs) could be delayed until Feb. '14. Kaveri's successor, Carrizo (based on the 28nm Excavator architecture), is due in 2015.
    • CPU delays serve to extend Intel's (INTC -1.1%) manufacturing process edge over AMD. Intel is in the midst of ramping production of its second-gen 22nm Haswell CPUs, and is expected to launch its 14nm Broadwell CPUs in 2H14. 22nm and (subsequently) 14nm Atom CPUs are also on tap.
    | Aug. 27, 2013, 12:09 PM | 12 Comments
  • Aug. 21, 2013, 2:28 PM
    • Digitimes reports the launch of Intel's (INTC -1.6%) 22nm Bay Trail Atom tablet CPUs (expected in Q4) will be followed by the launch of 14nm "Cherry Trail" Atom tablet CPUs in Q3 2014, and 14nm "Willow Trail" Atom tablet parts in Q4 2014.
    • Intel is also expected to follow up on the launch of its 22nm Merrifield Atom smartphone CPUs (due at year's end) with 14nm "Moorefield" CPUs in 1H14, and 14nm "Morganfield" CPUs in 1H15.
    • Cherry Trail is said to use Intel's next-gen Airmont CPU architecture, and Willow Trail a succeeding architecture codenamed Goldmont.
    • Barron's recently noted Intel Intel wants to narrow the delay between Core (PC) and Atom CPU launches for a given architecture, as it makes an all-out effort to gain mobile CPU share from ARM-based (ARMH) suppliers such as Qualcomm (QCOM). Nvidia (NVDA), and MediaTek.
    • In June, new CEO Brian Krzanich stated Atom launches could actually precede Core launches for a particular architecture in the future. Digitimes' report suggests that might just happen with Willow Trail. But it's worth noting a mere one-quarter gap between CPU architecture upgrades would be very rare for Intel.
    • If Intel can ramp 14nm Atom production in 2014, it should have a process edge over its rivals, who will be at 20nm. But Intel still needs to develop chips that fuse powerful CPUs with 4G baseband modems (something Qualcomm has excelled at).
    • Bay Trail has stoked cannibalization fears. Its successors could heighten them.
    • Intel's 14nm Broadwell Core CPUs are expected in 2H14. Broadwell's 14nm successor, Skylake, is due in 1H15.
    | Aug. 21, 2013, 2:28 PM | 10 Comments
  • Aug. 19, 2013, 6:52 PM
    • H-P (HPQ) is set to begin selling blade servers supporting Nvidia's (NVDA) Grid server GPU platforms, which enables remote access to GPU resources for apps such as PC virtualization (software vendors Citrix, VMware, and Microsoft are on board) and cloud gaming.
    • H-P says servers with GPU-packed Grid boards meant to enable PC virtualization will arrive later this year at prices starting below $9K.
    • Nvidia mentioned on its FQ2 CC its OEM partners - H-P, Dell, Cisco, and IBM - have finished certifying Grid servers, and that ~150 trials are ongoing. In addition to selling boards to OEMs, Nvidia plans to sell its own Grid appliance, and has deals to sell Grid GPUs to data center owners building their own hardware (some major Web/cloud companies could be among them).
    • Though Grid sales are just getting underway, Nvidia is coming off a quarter where it saw 128% Y/Y growth for its Tesla server GPU business (focused on HPC applications).
    • AMD is looking to compete against Grid with its new Sky server graphics card line.
    • Meanwhile, TechCrunch has provided more positive media coverage (previous) for Nvidia's Shield handheld console. "No matter what Nvidia’s purpose was in putting together the Shield, I’m glad they’ve done so ... As someone who owns both, believe me when I say that if you’re a gaming fan, you’ll get more use out of Nvidia’s quirky hybrid hardware than a slate running Android."
    | Aug. 19, 2013, 6:52 PM
  • Aug. 14, 2013, 4:04 PM
    • GPU archrivals AMD (AMD +3.4%) and Nvidia (NVDA +4.3%) close higher on a moderately down day for tech. The release of Jon Peddie's Q2 GPU figures could be a factor.
    • The research firm estimates GPU shipments rose 4.6% Q/Q in Q2 even as PC shipments fell 2.5%. This is attributed to growing consumer interest in "double-attach" systems featuring both a discrete GPU and a CPU with an on-board GPU (most of Intel and AMD's latest CPUs have one).
    • Integrated GPUs have been taking share from discrete GPUs for a long time. Thus, any favorable data regarding discrete demand is likely to be well-received.
    • Counting integrated GPUs, Intel (INTC +0.2%) is estimated to have a 62% GPU share in Q2, up from 61.1% in Q1 and unchanged Y/Y. AMD is given a 21.9% share, up from Q1's 20.6% but down from 22.7% a year ago. Nvidia is assigned a 16.1% share, down from 18.3% in Q1 but up from 14.8% a year ago.
    • Nvidia recently released July quarter figures that pointed to Y/Y share gains.
    • Also: In what could prove a positive for AMD, Digitimes reports game console chip orders for September and October have already come in, and that orders are expected to stay strong November/December. Much, of course, depends on how consumers respond to the actual PS4 and Xbox One launches.
    | Aug. 14, 2013, 4:04 PM | 4 Comments
  • Aug. 9, 2013, 7:11 PM
    • Nvidia (NVDA -1.4%) fell only modestly after reporting light guidance to go with an FQ2 beat.
    • Healthy GPU sales (+9.3% Q/Q and +7.5% Y/Y to $858.6M) softened the response to nosediving Tegra sales (-49% Q/Q and -70.7% Y/Y to just $52.6M).
    • Nvidia, which previously guided for flat FY14 (ends Jan. '14) Tegra sales (a forecast already implying share loss), now thinks sales could fall by $200M-$300M from FY13's $750M.
    • On the CC, CEO Jen-Hsun Huang blamed the forecast, which comes as Tegra 4 hardware launches, on poor Windows RT hardware sales. However, Nvidia's dearth of major Android smartphone wins relative to Qualcomm, and Samsung's partial reliance on home-grown CPUs, are also clearly factors.
    • Meanwhile, Huang has confirmed reports a Tegra chip will go into the next version of Surface RT, and Chinese sites have published pictures said to depict an Nvidia-made tablet called the Tegra Tab.
    • One bright spot: Tesla server GPU sales +25% Q/Q and +128% Y/Y, evidence of strong HPC market demand. Also, Quadro workstation GPUs +9% Q/Q and +14% Y/Y, and desktop GPUs +14% Q/Q and +4% Y/Y (mix shift to high-end). Notebook GPUs -4% Q/Q and -2% Y/Y.
    • Given the state of PC sales, the GPU figures point to additional share gains relative to AMD.
    • In spite of a 6% Y/Y rev. drop, R&D spend +18% Y/Y to $331.7M. SG&A -10% to $108.3M.
    • Previous: Nvidia to license GPU IP for 3rd-party mobile processors
    | Aug. 9, 2013, 7:11 PM
  • Aug. 8, 2013, 4:27 PM
    • Nvidia (NVDA): FQ2 EPS of $0.16 beats by $0.03.
    • Revenue of $977.2M (-6.4% Y/Y) beats by $0.8M.
    • Expects FQ3 revenue of $1.05B (+/- 2%), below a $1.1B consensus.
    • Shares -1.2% AH. (PR)
    | Aug. 8, 2013, 4:27 PM
  • Aug. 8, 2013, 12:10 AM
  • Aug. 7, 2013, 5:35 PM
  • Aug. 6, 2013, 12:30 PM
    • With servers running IBM's (IBM -2.2%) Power CPUs (sales -25% Y/Y in Q2) losing share to systems using Intel's (INTC -0.5%) Xeon server CPUs, IBM is forming the OpenPower Consortium, an alliance through which Big Blue will license its Power architecture and related technologies to 3rd-parties, in an effort to create a broad IT hardware ecosystem around them.
    • Initial partners include Nvidia (NVDA - its GPUs and CUDA computing platform will support Power), Mellanox (MLNX - InfiniBand hardware support is a good bet), Google, and Taiwanese server OEM Tyan,
    • Google and Tyan's support is noteworthy, given Google and many Internet peers have spurned IBM and other server giants in favor of Intel-based commodity gear made by the likes of Tyan to the specifications of Internet/cloud firms.
    • Google: "The consortium has the potential to establish Power architecture as a viable option for applications running within Google's data centers." Software support remains a near-term challenge.
    • In downgrading IBM to Underperform, Credit Suisse cites mainframe and (Power-based) UNIX hardware headwinds, weakening free cash flow, and a spending shift towards cloud services.
    • Previous: Furloughs for U.S. hardware workers
    | Aug. 6, 2013, 12:30 PM | 2 Comments
  • Jul. 31, 2013, 2:20 PM
    • Nvidia's (NVDA +0.4%) $299 Shield handheld Android console, which has begun shipping after delays, has received solid reviews, albeit with qualifiers.
    • The Tegra 4-powered Shield's display, battery life, build quality, and ability to stream PC games generally receive high marks. The Verge calls Shield "a seriously impressive piece of hardware," and VentureBeat calls it "a great device for geeks" (a backhanded compliment?).
    • However, reviewers are quick to note there's a shortage of controller-supporting Android games, and that gameplay is inconsistent between officially supported titles. Of course, Nvidia's apparent goal is to use Shield to drive interest in such games, and in doing so boost sales of Tegra chips and Kepler GPU licenses.
    • Shares are ticking higher in spite of Wells Fargo's downgrade. Analyst David Wong is concerned growing sales of ultrabooks and other thin-and-light form factors will hurt demand for discrete notebook GPUs. He also thinks Tegra sales (-50% Q/Q in the April quarter to $103M) could fall to ~$70M in the July quarter, and believes Nvidia's guidance for flat FY14 (ends Jan. '14) Tegra sales "may be too optimistic."
    • On the bright side, Wong thinks Nvidia gained GPU share in Q2, and believes investors could be overestimating the impact of tables on notebook sales.
    | Jul. 31, 2013, 2:20 PM | 2 Comments
  • Jul. 31, 2013, 9:48 AM
    • Riverbed (RVBD -17.2%) has been downgraded by Pac Crest and RBC in response to its Q2 revenue miss and Q3 guidance.
    • Alcatel-Lucent (ALU +3.3%) has been upgraded to Buy by Nomura a day after posting a Q2 beat (I, II).
    • Nvidia (NVDA -0.1%) has been cut to Market Perform by Wells Fargo.
    • Sprint (S -0.8%) has been cut to Perform by FBR a day after delivering Q2 results (I, II).
    • Intersil (ISIL +11%) has been upgraded to Buy by Craig-Hallum in response to its Q2 beat.
    • Symantec (SYMC +8.8%) has been upgraded to Outperform by Baird in response to its FQ1 beat (I, II).
    • Mindspeed (MSPD -1.9%) has been cut to Hold by Craig-Hallum following its FQ3 beat.
    • Open Text (OTEX +1.5%) has been upgraded to Buy by Benchmark ahead of this afternoon's FQ4 report.
    | Jul. 31, 2013, 9:48 AM
  • Jul. 19, 2013, 11:55 AM

    Microsoft (MSFT -11%) is plunging following its FQ4 miss, and is taking other PC-related names lower with it. HPQ -4.2%. INTC -1.4%. NVDA -2.2%. Goldman (Sell) predicts lower Windows price points for smaller/touch devices and emerging markets piracy will lead Windows sales growth to lag already-weak PC shipment growth. Nomura (Buy) thinks activism (led by ValueAct?) is now more likely, and could drive shares higher. Some bright spots: SQL Server and System Center revenue grew 16% and 14% Y/Y; Lync revenue rose 30%; over 50% of the Fortune 500 is using Azure; and "Windows Phone" revenue (much of it consists of Android royalties) rose by $222M . (FQ4: I, II, III) (transcript)

    | Jul. 19, 2013, 11:55 AM | 20 Comments
  • Jul. 10, 2013, 4:29 PM

    Global PC shipments fell 10.9% Y/Y in Q2 to 76M, estimates Gartner. That's nearly even with the 11.2% drop the firm estimated for Q1, and backs up recent analyst commentary (I, II). Gartner: "In emerging markets, inexpensive tablets have become the first computing device for many people." One bright spot: U.S. shipments fell only 1.4% Y/Y, and rose 8.5% Q/Q; Gartner thinks this was due to enterprise strength. EMEA shipments -16.8%, Asia-Pac -11.5%. Affected companies: MSFT, INTC, DELL, HPQ, STX, WDC, MU, AMD, NVDA. (IDC's Q1 data) (tablet forecast) Update: IDC estimates global Q2 shipments fell 11.4%, and U.S. shipments 1.9%.

    | Jul. 10, 2013, 4:29 PM | 2 Comments
Company Description
NVIDIA Corp. is a visual computing company, connecting people through computer graphics. It is engaged in creating graphics chips, which is used in personal computers. The company operates through two segments: Graphics Processing Unit (GPU) and Tegra Processor. The GPU segment includes sales of... More
Sector: Technology
Industry: Semiconductor - Specialized
Country: United States