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3 Reasons Why Nvidia Isn’t Priced For Perfection

Semiconductor stocks are rising today, with the Philadelphia Semiconductor Index (SOX) gaining 1.4% on a day when the Nasdaq is up 0.4%. Chipmaker Nvidia (NVDA) is outpacing those gains, up 2.7% to $171.82 a share in recent market action.

Earlier today, the stock hit an all-time high of $172.14.

As my colleague Teresa Rivas noted in the Sector Focus blog, Nvidia is set to unveil quarterly earrings on Thursday. Ahead of that event, B. Riley analyst Craig Ellis has hiked his price target for the stock by almost 50%, from $135 a share to $200 a share, in anticipation of strong execution.

NVDA reports F2Q18 results Thursday, 8/10 AMC. We expect strong execution from the Auto, Data Center acceleration, and Gaming leader. Specifically we see potential for $50‐$90MM of upside to Street F2Q estimates of $1.964B (+1.3%)/$0.81 in a seasonally variable quarter and a beat versus Street $2.141B(+9.0%) /$0.92 in the seasonally stronger F3Q. Our F2Q basis is led by Gaming where four drivers ‐new products, an on‐track portable console...