Nvidia: Weighing The Up And Down Sides
Esekla • 94 Comments
Esekla • 94 Comments
Nvidia: Best In Class Among Semiconductors In 2016
Alex Cho • 16 Comments
Alex Cho • 16 Comments
Thu, Nov. 10, 4:38 PM
- Results – revenue $2B (+53.8% Y/Y, $310M above estimates), EPS $0.94 ($0.37 above estimates), gross margin 59.2% (vs. 56.5% Y/Y, 58.1% Q/Q), operating expenses $478M (vs. $430M Y/Y, $448M Q/Q), operating income $708M (vs. $308M Y/Y, $382M Q/Q), net income $570M (vs. $255M Y/Y, $313M Q/Q)
- Repurchases and dividends – Total of $694M returned in first nine months of FY 2017. Projects $1B for year in total, $1.25B for 2018 and authorizes additional $2B for program through December 2020. Quarterly cash dividend increased 22% to $0.14 per share, to be paid on December 19 to shareholders on record November 28.
- Q4 projections – revenue $2.10B (+/- 2%) [consensus $1.69B], gross margin 59.2% (+/- 50 bps), operating expenses $500M, tax rate 20% (+/- 1%), capital expenditures $45M-$55M
- Nvidia (NASDAQ:NVDA) founder and CEO Jen-Hsun Huang: "We had a breakout quarter - record revenue, record margins and record earnings were driven by strength across all product lines. Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing. We have invested years of work and billions of dollars to advance deep learning. Our GPU deep learning platform runs every AI framework, and is available in cloud services from Amazon, IBM, Microsoft and Alibaba, and in servers from every OEM. GPU deep learning has sparked a wave of innovations that will usher in the next era of computing."
- Quarterly revenue trend
- Prior quarters overview
- CFO commentary
- Conference call
- Press release
Thu, Nov. 10, 4:21 PM
Wed, Nov. 9, 5:35 PM
Mon, Nov. 7, 11:50 AM
- From $70 (current price $71.16) and attributed to a "transformation from a PC-leveraged GPU supplier to a diverse visual-computing company" firm considers to be complete and a full quarter of Pascal GPU sales projected to generate upside to current and upcoming quarter.
- For Q3, analyst Matthew Ramsay forecasts $1.75B (consensus $1.69B) in revenue and EPS of $0.74 (consensus $0.57). For FY 2017, raises model from $6.08B and $2.35 to $6.23B (consensus $6.11B) and $2.47 (consensus $1.86). On FY 2018, sees $6.66B (consensus $6.56B) and $2.46 (consensus $1.93), from $6.36B and $2.25 prior.
- Nvidia's (NVDA +5.3%) earnings report to come this Thursday.
Wed, Nov. 2, 9:49 AM
- Barron's has the note from Citi analysts Atif Malik and Amanda Scarnati. Read it there, and come back to discuss.
- NVDA currently +2%.
Mon, Oct. 24, 5:19 PM
- Estimates a potential $200M-$320M annual near-term opportunity for Nvidia on the inclusion of its components in Nintendo's recently announced Switch gaming system.
- Buy rating and $80 price target (current price $70.71) restated.
- Nvidia (NASDAQ:NVDA) shares closed today up 4.7% and higher by more than 6% since the day before Nintendo's Switch system was first announced.
- Previously (October 20): Jefferies: Nintendo Switch an important software showcase
Sat, Oct. 22, 10:42 AM
- While Tesla Motors (NASDAQ:TSLA) may have grabbed some headlines this week for its ambitious goals with autonomous driving (SAE level 5), the technology is being widely discussed across industries as a potential future reality.
- At a real estate conference in New York this week, a panel member called autonomous vehicles the biggest tech news concerning real estate in the last ten years. Some see a future reversal of urbanization trends in a development that could have significant investment implications.
- City planners and architects are already thinking of next-gen design. A paper titled "Beyond Google's Cute Car" (.pdf version) is a good example of how cities are being reimagined.
- Then there's this from the man who designed the 2015 Ford Mustang. "The next 10 years in this business is going to be the biggest change and challenge since the turn of the last century when cars took over for horses," said Ford design chief Moray Callum. Ford (NYSE:F) aims to have a high-volume, fully autonomous SAE level 4-capable vehicle in commercial operation in 2021.
- Self-driving car development is a topic of discussion on FedEx (NYSE:FDX), UPS (NYSE:UPS), Lyft (Private:LYFT), Uber (Private:UBER), Hertz Global (NYSE:HTZ), Google (GOOGL, GOOG), Avis Budget (NASDAQ:CAR), Domino's Pizza (NYSE:DPZ) and Nvidia (NASDAQ:NVDA). Earnings season is just heating up, but a host of companies -- including OTCPK:TMOAF, OTCPK:DDAIF, OTCPK:VOLVY, MXIM, CPRT, WBC, GNTX and XLNX -- have already talked up the trend on their conference calls. GM reports earnings this week and will update on any self-driving Chevy Bolt plans.
- Looking ahead, insurance companies, chipmakers, truckers and cybersecurity firms (NYSEARCA:HACK) will be firmly in the self-driving conversation.
- So who has a profitable trade idea off of the evolution of cars?
Thu, Oct. 20, 12:18 PM
- Earlier: Tesla raises stakes in the self-driving car push
- With Nvidia (NVDA +0.9%) supply involved in Tesla's self-driving program, analyst Vijay Rakesh notes that although pricing will be telling as to overall potential impact, the development nonetheless trends positively.
- Maintains $66 target (current price $67.08).
- Also today: NVIDIA Technology Powers New Home Gaming System, Nintendo Switch
Thu, Oct. 20, 8:28 AM
- Shares of Tesla Motors (NASDAQ:TSLA) are lower in early trading after the company announced it is loading all new cars with self-driving hardware.
- Elon Musk told reporters last night that he envisions that by the end of 2017 a Tesla vehicle will be able to drive from Los Angeles to New York without the driver touching the wheel. He also said the software system will be built by Tesla and run off of Nvidia (NASDAQ:NVDA) chips.
- Tesla's timetable is aggressive in relation to the stated plans of some rivals. Earlier this year, Ford (NYSE:F) said it aims to bring a high-volume, fully autonomous vehicle to the ride sharing industry by 2021, while Nissan has a target of 2020 for "commercially viable" autonomous models. General Motors (NYSE:GM) already has a pre-production Bolt EV out in the wild, but hasn't set a specific timetable for a fully autonomous version.
- Google (GOOG, GOOGL) is the company that has posted the most information about the challenges of the self-driving car initiative. A scan of Google's monthly reports is not a bad way to catch up on the burgeoning technology.
- Previously: Tesla announces all vehicles to be loaded with self-driving hardware (Oct. 19)
- TSLA -1.74% premarket to $200.01.
Fri, Oct. 14, 4:47 AM
- Tech giants including AMD, Dell/EMC, Google (GOOG, GOOGL), HPE, IBM, Mellanox (NASDAQ:MLNX), Micron (NASDAQ:MU), Nvidia (NASDAQ:NVDA) and Xilinx (NASDAQ:XLNX) have linked up to give Intel (NASDAQ:INTC) a good kick in the datacenters.
- The group has come up with an open specification, dubbed OpenCAPI, that can boost server performance by up to 10x.
- Effectively they are moving away from PCIe, the current industry standard, to something that is both more open and vastly more powerful.
Mon, Oct. 10, 3:34 PM
- Tesla Motors (TSLA +2.4%) plans to partner with Nvidia (NVDA +0.3%) on an end-to-end computer vision system, sources tell Electrek.
- The new Tesla Vision program will use Nvidia's parallel computing platform to help control vehicles by taking raw data from camera sensors and running it through an image processing system.
- Tesla Vision is likely to use deep neural network to become more efficient and safer over time.
- The Vision & Robotics Labs at Princeton University has some useful information on the deep learning concept which could be critical to the future of autonomous driving.
Tue, Sep. 13, 8:58 AM
- Saying it would power Baidu's (NASDAQ:BIDU) mapping and autonomous vehicle technology, Nvidia (NASDAQ:NVDA) has revealed a smaller and more efficient artificial intelligence computer for self-driving cars, called Drive PX 2.
- Earlier this month, the two companies announced a partnership to develop a full cloud-to-vehicle autonomous car architecture using their expertise in AI.
Wed, Sep. 7, 11:37 AM
- Despite a jarring reaction to concurrent common stock and senior note offerings announced yesterday, Advanced Micro Devices (AMD -6%) continues to outpace all major competitors when it comes to share price growth over the last 12 months.
- At present levels, AMD is up 267% since this point last September while Nvidia (NVDA -1.3%), second in growth over the same period, is up around 175%.
- Though short-term prospects are realizing a negative impact on the developments, the company appears to be increasingly prioritizing a more long-term strategic focus.
Thu, Sep. 1, 7:46 AM
- Speaking at the annual Baidu World conference, Nvidia (NASDAQ:NVDA) CEO Jen-Hsun Huang announced he would work with Baidu (NASDAQ:BIDU) to build a self-driving car platform whose algorithm-based operating system would include cloud-based, high-definition maps and the ability to perceive and react to different road environments.
- "No company in the world today has demonstrated the ability to integrate this system and deploy it at scale for millions of cars to drive by themselves," he said. "We are going to bring together our technical capabilities and expertise in AI" to make this happen.
Tue, Aug. 23, 12:51 PM
- Nvidia (NVDA +0.7%) showed off the technology at the Hot Chips symposium in Cupertino, declaring the processor "ideally suited for automotive applications like self-driving cars and digital cockpits." The company noted Parker earlier this year when introducing NVIDIA DRIVE PX2, a platform Nvidia claims can deliver 24 trillion deep-learning operations per second.
- Parker is built on Pascal GPU and Denver CPU architectures, can deliver up to 1.5 teraflops of performance and is capable of scaling algorithms continuously. Additionally features hardware-enabled virtualization and support for encoding and decoding 4K resolution video at up to 60 frames per second.
- The company plans to release further details as it continues to "accelerate toward making the self-driving car a reality."
Tue, Aug. 23, 7:31 AM