What Should Nvidia Reveal At The GTC Conference? Citi Analyst Lays Down Expectations

Nvidia Corp NVDA will host a GTC developer conference with Jensen's keynote scheduled for September 20, followed by Financial analyst Q&A.
Citi analyst Atif Malik expects Nvidia to announce new RTX 40-series Ada Lovelace gaming cards with 2x performance improvement over the current generation Ampere-based RTX 30-series, starting in October.
While Nvidia typically does not provide an update on the quarter at GTC events, he saw an in-line October quarter.
The critical investor topics included the trajectory of gaming sales recovery, an update on $400 million China restrictions from shipping older non-A100 data center products, signs of data center slowdown, sustainability of auto sales inflection into next year, and Grace CPU, Metaverse.
Citi reiterated a Buy on Nvidia and a $248 price target.
Recently Mizuho cut its price target on Nvidia and Advanced Micro Devices, Inc AMD as he believes some hyperscalers could see a slowdown into the end of 2022 due to macro concerns.
Rakesh said a Europe-China slowdown, Memory (DDR5), and PCIe Gen5 were key Server concerns as broad-based chip supply has improved considerably.
He sees the strength in Data Centers slowing and adverse effects from the ban on sales into China affecting both companies near term.
Price Action: NVDA shares traded higher by 0.95% at $133.24 on the last check Monday.
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