Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
First, Nvidia's exposure to the cryptocurrency and gaming sectors remains strong, Rakesh commented in a research report. Specifically, a fact-finding trip to Asia revealed shipments of GPU and motherboard devices had risen 50 percent quarter over quarter versus the prior "just flat." Meanwhile, GPU pricing has been trending higher for much of the quarter and represents another tailwind for Nvidia.
Second, Nvidia likely began shipping its Volta V100's during the second week of July and likely realized new design wins among Chinese clients, including Tencent, Alibaba Group Holding Ltd (NYSE:BABA) and Baidu Inc (ADR) (NASDAQ:BIDU).Third, Nvidia's exposure to the automotive segment remains strong as well, the analyst continued. While Drive PX and Drive PX2 are still priced at a premium, the acceleration in the autonomous roadmap bodes well for Nvidia.Finally, the analyst's incremental bullish stance on Nvidia is based on a 55x multiple on the company's fiscal 2019 earnings per share estimate and the assumption the company grows into a $20 to $30 billion data center/automotive total addressable market from just $1.8 billion in DC revenue today.
Related Links:Nvidia Expands Lead In AI-Driven Vehicle Suppliers With New Products, New PartnershipsRobotics Analyst: Nvidia's AI Developments Don't Change The Self-Driving Car TimelineCrypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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