What's Going On With Nvidia Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock is trading lower amid reports of significant reduction in graphics card pricing. The price of the Nvidia RTX 4060 has dropped by 6% within a week of its release in Europe. In contrast, the U.S. has not seen a similar price reduction. Due to high pricing and underwhelming reception, many PC enthusiasts are turning to older graphics cards from Advanced Micro Devices, Inc and Nvidia. Analyst Toshiya Hari from Goldman Sachs maintains Nvidia with a Buy and raises the price target from $440 to $495.
July 10, 2023 | 3:38 pm
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POSITIVE IMPACT
Due to high pricing and underwhelming reception of Nvidia's RTX 4060, many PC enthusiasts are turning to older graphics cards from Advanced Micro Devices.
The high pricing and underwhelming reception of Nvidia's RTX 4060 is driving PC enthusiasts towards AMD's older graphics cards, which could potentially boost AMD's sales.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Nvidia's stock is trading lower due to significant reduction in graphics card pricing. However, Goldman Sachs analyst maintains Nvidia with a Buy and raises the price target.
The significant reduction in graphics card pricing is negatively impacting Nvidia's stock. However, the raised price target by Goldman Sachs analyst could potentially offset this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100