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If that return isn't there, will they keep ordering the latest and greatest Nvidia chips? Despite the overall improvements in availability, Nvidia on Wednesday indicated it will face supply-and-demand imbalances with its upcoming AI chips. The U.S. government has said its export controls are designed to keep high-powered AI chips out of the hands of the Chinese military. In the November-through-January quarter, China accounted for a mid-single-digit percentage of Nvidia's $18.4 billion in data center revenue, according to the company. The fact Nvidia still booked China revenue in the hundreds of millions of dollars means it could take a further hit in the region.
Persons: , Jensen Huang, Raymond James, Nvidia's, Colette Kress, Huang, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim Organizations: Nvidia, Meta, Apple, Microsoft, Melius Research, Devices, Big Tech, Wall, U.S, Truist Securities, CNBC, Visitors, NVIDIA, Hangzhou Apsara, Getty, Nurphoto Locations: China, Hangzhou, Hangzhou Apsara Conference, Zhejiang province
Piper Sandler reiterated its buy-equivalent rating on Nvidia's stock and $620 per-share price target, which implies nearly 33% upside from its Friday close. After Nvidia's more-than-200% stock-price gain this year, investors are wondering what's "new" about Nvidia, Jim Cramer said Monday. The answer to that question is software, Jim said, which could eventually help offset the historically boom-and-bust nature of semiconductor sales. Over time, though, Piper Sandler believes software can become a "significant portion" of Nvidia's total revenue. Despite our alignment with Piper Sandler on Nvidia's long-term software opportunity, Jim on Monday cautioned that its stock could be due for a breather.
Persons: Piper Sandler, Nvidia's, Jim Cramer, Jim, Jim Cramer's Organizations: Nvidia, Devices, AMD, Software, Enterprise, Club, Apple, CNBC, Visitors, NVIDIA, Hangzhou Apsara, Getty, Nurphoto Locations: Hangzhou, Hangzhou Apsara Conference, Zhejiang province, China
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