Crypto is relevant but not important to NVDA. There is a big misconception in the market about NVDA’s dependence on cryptocurrency.
AI is so much in the early stages. It already does so much but we’ve haven’t seen anything yet. Some people are so focused on crypto that they can’t see what’s happening with AI and where it’s headed.
As good as this quarter was, can you imagine how it would have gone if they had more inventory. If they could have sold a GTX 1080 to everyone who wanted one. Huang talks in nearly every call about this that leads to “pent up demand” which leads to momentum going into the next quarter.
Wells Fargo $100. LoL. Yup AMD will eat Nvidia’s lunch any day now…
<<<Wells Fargo $100. LoL. Yup AMD will eat Nvidia’s lunch any day now…>>>
Taking into account Wells Fargo’s renewed optimism, the current price target has NVDA at around a 14 or 15 P/E.
The only justification for this is that like AOL, some disruption was coming forward that would make their product and business model irrelevant. Yes, probably AMD