Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Wedbush Morgan Ups Nvidia to 'Buy'

Wedbush Morgan upgraded Nvidia (NVDA) to buy from hold.

The graphic chip maker posted 30 cents fourth quarter earnings per share, helped by settlement of a pricing dispute with Microsoft, which uses Nvidia's chips in its Xbox video-game console. Analyst David Wu says the effects of the Xbox settlement gives Nvidia recognition of $40.4 million in deferred revenue, and allows for pricing adjustment in the fourth quarter of fiscal 2003, going forward.

But Wu thinks management's lack of revenue guidance for the first quarter means that the range could be relatively large, depending on sales of Xbox and how quickly the company can clear its backlog. He now forecasts $370 million to $420 million first quarter revenue, and 10 cents earnings per share, with a range of seven cents to 13 cents. While the outlook for the first quarter remains murky, he beleives fundamentals will bottom out. Wu set a $14 12-month target.

blog comments powered by Disqus