Needham analyst Rajvindra Gill upgraded Nvidia Corp.'s stock to buy from hold Tuesday, writing that the company's GPUs and artificial-intelligence capabilities will prove attractive during the COVID-19 outbreak. He expects increased usage of GPUs for medical applications going forward as GPUs can speed up the analysis of genomes "from days to less than one hour." He also predicts that companies will accelerate their adoption of artificial intelligence. Finally, he is upbeat about Nvidia's financial position. "During this uncertain time, superior balance sheets remain supreme," he wrote. "Nvidia has a net cash position of $8.9 billion ($10.9 billion of cash/investments minus $2.0 billion debt) or $14.34/share. Of the 21 companies in the SOX , the only company with a higher net cash position is TSMC ." Nvidia shares are up 10.5% in Tuesday trading, though they've dropped 14% over the past month. The S&P 500 has lost 27% in that span. Read More...
Needham analyst Rajvindra Gill upgraded Nvidia Corp.’s stock to buy from hold Tuesday, writing that the company’s GPUs and artificial-intelligence capabilities will prove attractive during the COVID-19 outbreak. He expects increased usage of GPUs for medical applications going forward as GPUs can speed up the analysis of genomes “from days to less than one hour.” He also predicts that companies will accelerate their adoption of artificial intelligence. Finally, he is upbeat about Nvidia’s financial position. “During this uncertain time, superior balance sheets remain supreme,” he wrote. “Nvidia has a net cash position of $8.9 billion ($10.9 billion of cash/investments minus $2.0 billion debt) or $14.34/share. Of the 21 companies in the SOX , the only company with a higher net cash position is TSMC .” Nvidia shares are up 10.5% in Tuesday trading, though they’ve dropped 14% over the past month. The S&P 500 has lost 27% in that span.
Read More
Add Comment