NVIDIA reiterated as a Buy following soft guidance at Canaccord Canaccord said NVIDIA's guidance was sfot due to weak PC end markets and in Tegra processor transitions. The firm expects NVIDIA to release strong mobile benchmarks at the upcoming Mobile World Congress and to have healthy gross margins in 2013. Shares are Buy rated with a $16 price target.
NVIDIA discloses Samsung files patent infringement suit NVIDIA (NVDA) disclosed in a regulatory filing that on November 10, Samsung (SSNLF) filed a complaint against NVIDIA and Velocity Micro, in the United States District Court for the Eastern District of Virginia. The complaint alleges that NVIDIA infringed six patents and falsely advertised that the Tegra K1 processor is the world’s fastest mobile processor. Samsung seeks unspecified damages and an injunction prohibiting NVIDIA from any future violations. NVIDIA has not yet responded to the complaint.