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News Breaks
June 23, 2014
12:06 EDTAMD, INTC, NVDAAMD, Nvidia retreat after analyst downgrades shares
Shares of computer chip makers AMD (AMD) and Nvidia (NVDA) are falling after research firm Pacific Crest downgraded the stocks, saying that they will be hurt by weak PC sales. WHAT'S NEW: The number of computers sold is likely to drop 5%-10% next quarter, due to weak consumer demand and excess inventory, motherboard makers said, according to Pacific Crest analyst Michael McConnell. About 45% of AMD's chips are incorporated into consumer desktops, while less than 5% of them are used in corporate PCs, McConnell stated. Additionally, notebook manufacturers reported that AMD is losing share to Intel (INTC) in notebooks that cost less than $399, the analyst stated. Meanwhile, Nvidia (NVDA) has significantly increased sales targets for its high end Quadro graphics processing units this quarter, even though the high-end desktop GPU market is oversupplied, McConnell reported. As a result, the inventories of Nvidia's customers may be too high at the end of this quarter, the analyst warned. He downgraded AMD and Nvidia to Underperform from Sector Perform and kept a $35 price target and Outperform rating on Intel. The latter company is better positioned as it has less exposure to desktop PCs and benefits more from strong corporate PC demand than AMD and Nvidia, the analyst explained. PRICE ACTION: In late morning trading, AMD sank 3.5% to $3.95 and Nvidia fell 1.8% to $18.59, while Intel shares were little changed at $30.17.
News For AMD;NVDA;INTC From The Last 14 Days
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March 25, 2015
09:39 EDTAMDAMD downgraded to Sell from Neutral at UBS
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March 24, 2015
09:37 EDTINTCHouse Energy & Commerce Committee to hold a hearing
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March 23, 2015
10:00 EDTNVDAOn The Fly: Analyst Downgrade Summary
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09:28 EDTNVDAOn The Fly: Pre-market Movers
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06:09 EDTNVDANVIDIA downgraded to Sell from Neutral at Goldman
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06:00 EDTAMDAMD's former CEO may join Dell, Re/code reports
According to sources, former AMD (AMD) CEO Rory Read is close to a deal to join Dell, Re/code reports. Read, who also previously worked at Lenovo (LNVGY) and IBM (IBM), could become COO and president for global commercial sales at Dell. An announcement may come as early as today, the sources say. Reference Link
March 22, 2015
16:42 EDTINTCChip equipment slowdown may not be as bad as first thought, WSJ says
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March 20, 2015
07:24 EDTINTCBroadcom chip renews competition with in-house hardware makers, WSJ says
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March 19, 2015
10:46 EDTINTCChinese firms using IBM technology in server chips, WSJ says
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09:02 EDTINTCIntel, Google, TAG Heuer announce Swiss smartwatch collaboration
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08:40 EDTINTCIntel Capital in talks to invest in Indian streaming service, TechCrunch says
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March 18, 2015
06:27 EDTNVDATesla CEO calls autonomous cars 'solved,' says Tesla will be leader, WSJ says
Tesla (TSLA) CEO Elon Musk believes self-driving cars are "a solved problem... we know exactly what to do and we will be there in a few years," reports the Wall Street Journal, citing statements given at the Nvidia (NVDA) graphical processor conference Tuesday. Musk added that "I think [Tesla] will be the leader in autonomous cars that you can actually buy." The Journal notes that Nvidia will make its autonomous car development platform available in May to researchers and car makers. Reference Link
March 17, 2015
15:01 EDTNVDANVIDIA introduces new GPU called Titan X, says Raymond James
Raymond James said NVIDIA introduced its new GPU called Titan X at the 2015 GPU Technology Conference, with two or three more announcements expected to be made. The firm believes the company's position continues to strengthen as it moves into all segments of computing from smartphones to supercomputers and becomes less tied to consumer PCs. Shares are Strong Buy rated.
14:10 EDTNVDATesla CEO says will put a lot of effort into autonomous cars
The Tesla CEO Elon Musk is speaking at NVIDIA’s 2015 GPU Technology Conference.
14:00 EDTNVDATesla CEO sees NVIDIA technology aiding future of autonomous driving
The Tesla CEO Elon Musk is speaking at NVIDIA’s 2015 GPU Technology Conference.
13:50 EDTNVDANVIDIA's Drive-PX will bring deep learning to ADAS
13:29 EDTNVDANVIDIA targets may to start shipping Digits DevBox
Comments from NVIDIA’s 2015 GPU Technology Conference.
12:31 EDTNVDANVIDIA introduces 'Titan X' GPU at technology conference
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12:17 EDTNVDANVIDIA CEO confirms plans to unveil new GPU at conference
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March 16, 2015
11:33 EDTNVDANVIDIA volatility increases into investor meeting
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