NVDA Stock

Everyone’s talking about Nvidia Corp’s (Quote, Chart NASDAQ:NVDA) new graphics processing unit, the GeForce RTX 2000 Series GPU. This includes portfolio manager Kim Bolton of Black Swan Dexteritas, who says that the new gaming tech handily makes up for Nvidia’s losses on the cryptocurrency side. Semiconductor company Nvidia unveiled its new GeForce RTX 2080 Ti series last week, which is expected to be industry-leading in the lucrative gaming sector. “Computer graphics will never be the same again,” said CEO Jensen Huang at the annual Gamescom conference in Germany. Writing for Forbes, Anshel Sag of Moor Insights & Strategy concurs, saying that with the spread of augmented and virtual reality as well as the rest of the XR spectrum, there comes more capacity for more complex and high-resolution displays and 3D models, making Nvidia’s next-generation card the new consumer standard. “NVIDIA’s RTX series is perhaps ahead of its time, but that hasn’t stopped NVIDIA in the past,” says Sag. “Just look at technologies like CUDA and the GPU which fundamentally changed high-performance computing. I believe that NVIDIA’s inclusion of RT Cores and Tensor Cores has the potential to be equally transformative.” The news comes as Nvidia’s share price has rebounded well over the past week from a mid-August earnings report which saw investors drop the stock due to falling revenue in its sales of graphics chips to cryptocurrency miners. And while the languishing price for cryptos like bitcoin and ether have put a chill on miners’ expansion plans, the future looks bright for Nvidia, nonetheless, says Bolton. “There’s a lot of volatility around this,” says Bolton, in conversation with BNN Bloomberg. “When they announced their earnings recently, traded down considerably to the low $250s, and the main reason for that is that their cryptocurrency business went from a year ago $250 million in revenue and they reported this year $18 million.” (All figures in US dollars.) “And so everyone thought that the air was coming out of it, however, that is being picked up by the gaming side,” he says. “And then they recently came out with this GE Force and there are three versions to it that actually have this new technology that makes it more realistic, has better latency for their GPUs, and that’s precisely why it has lifted from that $255 up to $276.” Earlier this month, Wells Fargo Securities made news by raising its rating two slots for Nvidia, from underperform to outperform, while raising its price target from S140 to $315, all on the strength of the company’s artificial intelligence and cloud computing segments.

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Nvidia’s RTX series will make people forget about the crypto crash, this is investor says

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