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Nvidia Chips Dominate AI. Demand Is 'Off the Charts.'" - Barron's
12:08 pm ET July 31, 2023 (Benzinga) Print
https://www.barrons.com/articles/nvidia-chips-dominate-ai-demand-a19c4644?mod=bol-social-tw
Bernstein is more optimistic about the potential for Nvidia to beat its own financial forecasts given the latest word from major cloud-computing vendors about their plans for spending on artificial intelligence.
On Monday, the firm’s team of technology analysts played down the short-term and medium-term risks that too much AI infrastructure could be built, leading to a boom, and then a bust, in demand for Nvidia‘s (ticker: NVDA) semiconductors.
“Clearly, customer demand [for Nvidia AI chips] is off the charts at the moment,” they said.
Bernstein rates Nvidia stock at Outperform with a target of $475 for the price. The stock was roughly unchanged at $468 in early trading Monday.
The analyst team aggregated their estimates of increases in AI-chip spending from Microsoft, Meta Platforms, Bytedance, and Google and found the four companies alone were enough for Nvidia to meet its guidance for the current quarter. Meanwhile, they expect other large technology companies and AI start-ups to invest aggressively in Nvidia’s AI semiconductors.
“Customer commentary uniformly points to demand greatly exceeding supply, and an analysis of anticipated wafer starts points to potentially even higher growth,” they wrote.
Bernstein says the current limitation on Nvidia’s revenue is advanced chip- packaging capacity at semiconductor foundries. As packaging capacity expands next year, Nvidia will have the potential to generate $75 billion to $90 billion in data-center AI revenue for 2024, versus the $42 billion consensus call among Wall Street analysts, the analysts say.
Nvidia dominates the market for chips used for AI applications, so it stands to benefit from generative AI. That is the technology behind chatbots such as OpenAI’s ChatGPT, which unleashed a wave of excitement after it was released late last year. The technology ingests text, images, and videos and then uses the patterns it finds to create content.
We “can see Nvidia’s numbers sustaining, and likely heading higher, for quite some time to come, at least the next 12-18 months,” the Bernstein team said.
Nvidia closes @ 467.40 share. Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company’s invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling industrial digitalization across markets. NVIDIA is now a full-stack computing company with data-center-scale offerings that are reshaping industry. More information at https://nvidianews.nvidia.com/. CEO Melvin stated VeeMost is partnering with Nvidia . NVIDIA is forming the market-leading blueprint for AI-first enterprise innovation.
lol, you betcha!
How about VeeMost / Nvidia > You know whales will be accumulating shares!
Excellent news today ! Soon we may see new investors buying large blocks. Give it a couple of days we'll see large % gains for VeeMost.
Hunter Biden was dismissed from the United States Navy Reserve due to failing a drug test. Hunter the artist > The House Oversight and Accountability Committee wants to know who bought the art and how much they paid, after list prices initially ranged up to $500,000. The chairman called the figures "exorbitant" for a "novice artist" and questioned whether it amounted to influence peddling over federal policy. Is Hunter paying income tax on these art sales.
The Average Electricity Rate in the U.S. is 16.11 cents per kilowatt-hour. Hawaii has the highest average electricity rate of 43.18 cents per kilowatt-hour. Tesla charges are more expensive in Hawaii.
TSLA another solid day! Also, moving up in AH.
GDVM has 169,562 reads today.
How about Judge Maryellen Noreika! ..... Maybe a Supreme Court nominee some day.
Hey buckeye, with Joe Burrow being injured, he probably has plenty of time and money to take a look at VeeMost. If I had his money, my accumulation would takes us to .20 + over the next several sessions.
Notice how some traders agonize over every tick , while long term investors exude confidence with their VeeMost shares.
Let's go VeeMost! Everyday , Melvin & team are generating revenue from an assortment of government & commercial ONGOING CONTRACTS > $$$$$.
The month long forest fires across Canada have now contributed what is equivalent to 3 years of worldwide CO2 emissions. Countries and California need to manage their forest floors by removing the dry and decaying tree and vegetation flammable debris. Lighting strikes are the most common ignition sources.
Jason Aldean topping the charts! Great tune! " Try That in a Small Town "
VeeMost has partnerships with Microsoft, Cisco, Paloalto, and other companies. Another new partnership is in the works. VeeMost is all about exponential revenue growth.
Let's see how Musk incorporates AI into the Tesal operations. Could see some powerful catalysts taking TSLA above $300.
VeeMost to get a tonnage of NEW BUYERS, the symbol and name change are the most important catalysts. Then the CEO can release any other news of new contracts, etc.
New buyers and traders will bring in multiple new high volumes , and exponential higher share prices.
Other catalyst in play besides Finra
Q2 revenues growth
New partnerships
Cisco Gold
AI acquisition for Cybersecurity and IT operations
Other catalyst in play besides Finra
Q2 revenues growth
New partnerships
Cisco Gold
AI acquisition for Cybersecurity and IT operations
Bristol Myers $$$$$ racking up in all 3 FDA trials.
Appreciate your erudite analysis!
Gangbusters Alert > VeeMost share price going much higher. Finra symbol & name change any time !!!!! >
Yes, to get a tonnage of NEW BUYERS, the symbol and name change are the most important catalysts. Then the CEO can release any other news of new contracts, etc.
New buyers and traders will bring in multiple new high volumes , and exponential higher share prices.
Other catalyst in play besides Finra
Q2 revenues growth
New partnerships
Cisco Gold
AI acquisition for Cybersecurity and IT operations
Other catalyst in play besides Finra
Q2 revenues growth
New partnerships
Cisco Gold
AI acquisition for Cybersecurity and IT operations
The FINRA catalyst will happen the 2nd week of August. Possibly sooner! VeeMost is a great $$$$$ opportunity.
GDVM
Agree, onwards & upwards!
Patiently waiting for news. Let's go VeeMost!!!!!
I went from watching Tucker to watching NY Yankees ( same time slot ).
Talking about " smart money " ..... You're at the right place at the right time . Check out the $75,000,000 in ongoing corporate and government contracts. Cyber security & AI contracts. FINRA changes coming any day within next 8 weeks. Let's go VeeMost!!!!!
A few day traders makin bank. Maybe Tuesday we see news.
.049 > 4.9 Million volume.
.0486 > smart money buying shares!
.0474 > a few new investors!!!!! Think Adobe as potential new partner! Let's go VeeMost!
Adobe earnings help justify AI-fueled surge, but will the stock now 'take a breather'?
7:56 am ET June 16, 2023 (MarketWatch)
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By Emily Bary
Analysts cheer AI opportunities but remain divided on upside potential after a sizable recent run up
Adobe Inc. shares had seen a 42% monthly rally in the lead up to its earnings as Wall Street deemed the company an attractive artificial-intelligence play, and the software giant's latest report helped validate that surge.
The company hiked its expectations for fiscal 2023, including on the closely watched metric of annual recurring revenue. This boost signaled "confidence not only within the quarter but also for the upcoming quarters," according to Bernstein analyst Mark Moerdler.
Amid a mixed stretch for software earnings, Adobe's (ADBE)results and commentary stood out, Moerdler commented. "We like the fact that the company raised their FY23 targets in the face of difficult macro environment, an important sign of the strength in the business."
He wrote that he expects Adobe to monetize AI "in numerous ways" and thinks the company will be able to drive margin improvement even while making further aggressive investments in the technology.
"Adobe (like Microsoft) is a company that has invested thoughtfully over many years in AI and is well-positioned in the space now," Moerdler wrote, as he lifted his price target on the shares to $585 from $431 and reiterated an outperform rating.
Shares of Adobe were ahead more than 4% in Friday's premarket action.
Derrick Wood of TD Cowen highlighted that the tone on Adobe has shifted in a big way lately.
"In a matter of weeks, investor sentiment has shifted from GenAI being a headwind to compelling tailwind for ADBE, and 2Q results/guide reinforce the latter stance," he wrote. He thinks generative AI can drive a significant boost to Adobe's total addressable market and that the company is "well-positioned to capitalize on this opportunity, with a meaningful build in growth levers starting next year."
He rated the stock at outperform while upping his price target to $575 from $500 after earnings.
See also: Adobe enters AI fray with Firefly
Analysts chimed in with various views on whether Adobe shares will be able to sustain their recent momentum.
"With the stock up 40% over the past month, we would not be surprised to see the shares take a breather at current levels," wrote Evercore ISI's Kirk Materne, who rated the stock at outperform and boosted his price target to $590 from $475 late Thursday. "However, when zooming out and taking a 6-12 month view, we continue to believe Adobe is incredibly well positioned to monetize Gen AI [generative AI] across both its consumer and enterprise customer base and this should keep a positive bias on our/Street estimates" heading into 2024.
Don't miss: Oracle is riding the AI wave, but growth concerns remain, says analyst
Sterling Auty of SVB MoffettNathanson wrote that he and his team "have to give credit where credit is due," though they stayed on the sidelines on Adobe shares and noted that revenue impacts from AI won't really hit until the fourth quarter of 2023.
"There are still questions about competitive threats from Midjourney (Private), Dalle (OpenAI), and others," Auty wrote. "But Adobe has done a very good job rolling out a lot of functionality in a short period of time and initial reactions have been positive. Our expectation is that this will be incremental to growth, but the question is how much."
He brought his price target up to $540 from $360 in his most recent report, while keeping a market perform rating.
Read: AI is ready to take on menial tasks in the workplace, but don't sweat robot replacement (just yet)
Gregg Moskowitz of Mizuho had a similarly balanced view.
Adobe's "fundamentals appear to be on firmer ground, and GenAI offers legitimate upside potential over the medium-term and beyond," he wrote. "That said, the multiple is no longer inexpensive, and much uncertainty remains with respect to Figma," a pending acquisition that has sparked regulatory pushback.
Moskowitz had a neutral rating on the stock, though he raised his price target to $520 from $450 Friday.
More from MarketWatch: Yes, AI is coming for your job. Here's how to prepare
-Emily Bary
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 16, 2023 07:56 ET (11:56 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Juneteenth is a U.S. Stock Market Holiday, and the Nasdaq and New York Stock Exchange will be closed on Monday.
Relax pal! ..... Notice how some traders agonize over every tick , while long term investors exude confidence with their VeeMost shares.
Let's go VeeMost!!!!!
Let's see Adobe partnership with VeeMost. Adobe to monetize AI "in numerous ways" and thinks the company will be able to drive margin improvement even while making further aggressive investments in the technology.
"Adobe (like Microsoft) is a company that has invested thoughtfully over many years in AI and is well-positioned in the space now," Analyst Moerdler wrote, as he lifted his price target on the shares to $585 from $431 and reiterated an outperform rating.
> Bernstein analyst Mark Moerdler.
Thanks for the TA. I also like your baseball analogy of stealing Home Plate. Just like NY Yankee's player Kiner-Fallefa stole home plate last night in the subway series.
$2.00+ share , a week after FINRA! Many new investors jumping on board. VeeMost a summer runner !!!!!
VeeMost > GANGBUSTER REVENUES !!!!!
$75,000,000+ pipeline. > continuous revenue flow! Let's go VeeMost!
C'mon FINRA. Name change & symbol change . > Potential wait of another 12 weeks ( mid August ) Plenty of green sessions after FINRA .