Nvidia To Roll Out New Graphic Gaming Chips This Month; Analyst Lifts PT
Nvidia announced the rollout of a new series of graphic gaming chips, which promise to offer almost twice the performance and power efficiency of its predecessors.
NVDA) shares are rising 1.8% in the pre-market session after closing 3.4% higher at $552.84 on Tuesday. The chip company said it has worked with Micron to create the world’s fastest discrete graphics memory for the RTX 30 series, GDDR6X. It provides data speeds of close to 1TB/s system memory bandwidth for graphics card applications, maximizing game and app performance. The series is powered by Nvidia’s Ampere technology and uses ray-tracing technology, adding four ray-traced features for a more immersive gaming experience, including reflections, shadows, global illumination and ambient occlusion.” data-reactid=”13″>Nvidia (NVDA) shares are rising 1.8% in the pre-market session after closing 3.4% higher at $552.84 on Tuesday. The chip company said it has worked with Micron to create the world’s fastest discrete graphics memory for the RTX 30 series, GDDR6X. It provides data speeds of close to 1TB/s system memory bandwidth for graphics card applications, maximizing game and app performance. The series is powered by Nvidia’s Ampere technology and uses ray-tracing technology, adding four ray-traced features for a more immersive gaming experience, including reflections, shadows, global illumination and ambient occlusion.
The new Nvidia 8-nanometer chipmaking process, which was developed with Samsung, allows for higher transistor density and more efficiency, the company said.
“Today’s launch of Nvidia Ampere GPUs is a giant step into the future,” said CEO Jensen Huang. “The work of thousands of engineering years, the GeForce RTX 30 Series delivers our greatest generational leap ever. Nvidia RTX fuses programmable shading, ray tracing and AI for developers to create entirely new worlds. Twenty years from now, we’ll look back and realize that the future of gaming started here.”
GeForce RTX 30 Series graphics cards are available starting this month. The GeForce RTX 3080 will be available from Sept. 1 and the GeForce RTX 3090 will be sold from Sept. 24. In addition, the GeForce RTX 3070 will be available from October.
price target implies 3.5% downside potential to current levels.” data-reactid=”21″>Shares in Nvidia have been on a winning streak this year soaring a stellar 135%. In view of this year’s fast rally, the $533.32 average price target implies 3.5% downside potential to current levels.
Vivek Arya raised the stock’s price target to $650 from $600 and maintained a Buy rating.” data-reactid=”22″>Following the announcement Merrill Lynch analyst Vivek Arya raised the stock’s price target to $650 from $600 and maintained a Buy rating.
“The mainstream RTX 3080 and 3070 cards, which Nvidia claims will have the largest inter-generational performance boost, are priced $100 cheaper than speculated at $699 and $499, respectively,” Arya said. The analyst also noted that the price of the high-end 3090 card is 25% higher than the 2080 Ti it replaces at $1,499.
Christopher Rolland, who last month raised his price target to $540 from $450, said that datacenter and gaming continue to benefit from stay-at-home orders, while C3Q20 will likely benefit from the launch of Ampere gaming GPUs.” data-reactid=”24″>Susquehanna analyst Christopher Rolland, who last month raised his price target to $540 from $450, said that datacenter and gaming continue to benefit from stay-at-home orders, while C3Q20 will likely benefit from the launch of Ampere gaming GPUs.
See Nvidia stock analysis on TipRanks)” data-reactid=”25″>Nvidia has strong backing from the rest of the Street, too. The stock boasts 24 Buys versus 4 Holds and 1 Sell adding up to a Strong Buy analyst consensus. (See Nvidia stock analysis on TipRanks)
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