The company’s Ryzen Mobile 500 Series processors for laptops that were introduced in January are doing exceedingly well and AMD expects sales of these processors to continue to grow this year. The company reported non-GAAP earnings of $0.52 per share, up 189% year-on-year. This revenue growth was driven by a whopping 286% jump in Enterprise, Embedded and Semi-Custom revenues from higher sales of semi-custom SOC chipsets and EPYC server processors. Last month, AMD reported its first-quarter results with revenues of $3.4 billion, a jump of 93% year-on-year. The average analyst price target of $728 implies 17.5% upside potential to current levels.Īdvanced Micro Devices is a semiconductor company whose products include graphics processing units (GPUs), semi-custom System-on-Chip (SOC) products and chipsets, x86 microprocessors (CPUs), and accelerated processing units that integrate microprocessors and graphics (APUs).
NVDA remains for us as the best must-own secular AI semiconductor/IP play,” Mosesmann added.Ĭonsensus among analysts on Wall Street is a Strong Buy based on 25 Buys and 1 Hold. “In terms of the Crypto factor that has unnerved investors on the risk of a big inventory correction, we applaud management’s move to Crypto Mining Processors (CMPs) that are unusable for gaming, and effective castration of new RTX 30 series for Ethereum mining (hash rates cut in half), which point to a much more benign Crypto cycle this go-around…The ARM play, which looks like a toss-up to us, will work regardless. Management is navigating the supply chain constraints endemic in the industry and sees supply improving gradually as the year progresses.” Mosesmann commented on the earnings in a note to investors, “Excellent earnings and guide last night as Nvidia hit record sales in its strategic market segments with growth to continue through the fiscal year. ( See Nvidia stock analysis on TipRanks)įollowing the earnings, Rosenblatt Securities analyst Hans Mosesmann reiterated a Buy and a price target of $800 on the stock. However, the split is conditional on shareholders’ approval at NVDA’s annual meeting to be held on June 3.
The proposed split will increase the company’s outstanding common shares to 4 billion. On May 24, Nvidia’s board declared a 4:1 stock split in the form of a stock dividend to make its shares more accessible to a larger number of employees and investors. We remain on track to close the transaction within our original timeframe of early 2022…NVIDIA is uniquely positioned to enhance Arm's capabilities, and we are committed to invest in developing the Arm's ecosystem, enhancing R&D, adding IP and turbocharging its development to grow into new markets in the data center, IoT and embedded devices areas where it only has a light footprint, or in some cases, none at all.” However, Nvidia’s EVP and CFO, Colette Kress said on the Q1 earnings call, “On our Arm acquisition, we are making steady progress in working with the regulators across key regions. In April this year, the UK Secretary of State had issued an intervention notice on behalf of the UK Government citing national security interests. Nvidia’s proposed $40 billion acquisition of Cambridge-based Arm has come under scrutiny by the UK Government. Nvidia said at its earnings call that the US Department of Energy's Los Alamos National Laboratory and the Swiss National Supercomputing Center had already announced plans to build supercomputers powered by the Grace data center CPU. The company has also announced its first data center CPU, NVIDIA Grace, its first Arm-based processor CPU that is expected to be available in early 2023. In April this year, the company unveiled an artificial intelligence (AI) enabled processor, NVIDIA DRIVE Atlan, for autonomous vehicles and is targeting automaker’s autonomous vehicle models in 2025. NVIDIA CEO Jensen Huang said about the acquisition, “Mellanox, one year in, has exceeded our expectations and transformed NVIDIA into a data-center-scale computing company.” NVDA completed the acquisition in April last year and paid $7 billion for the company.
The company has also benefited greatly from its acquisition of Mellanox Technologies. The company stated at its earnings call that over 400 companies are in the process of evaluating Omniverse and around 17,000 users have downloaded the open beta platform. Nvidia foresees a significant opportunity to earn revenues from the Omniverse Enterprise platform, a technology platform that enables 3D design teams to work together in real-time on a global basis.
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