Today’s Research Reports on Stocks to Watch: NVIDIA and Qualcomm

NEW YORK, NY / ACCESSWIRE / January 17, 2017 / NVIDIA shares soared to a new high on Tuesday after announcing that China’s Chery Automobile Co. will be using the company’s self-driving technology. The stock also had some optimism from analysts. Shares of Qualcomm also went higher after the company raised its profit forecast and said it would buy back stock if its bid to acquire NXP Semiconductors fails.

RDI Initiates Coverage on:

NVIDIA Corporation
https://rdinvesting.com/news/?ticker=NVDA

QUALCOMM Incorporated
https://rdinvesting.com/news/?ticker=QCOM

NVIDIA Corporation shares may have closed down 1.29% on Tuesday but not before the stock hit a new high of $227.51 during intra-day trading. It was announced yesterday that China’s Chery Automobile Co. will use NVIDIA’s self-driving technology that the company has built with Baidu and ZF Friedrichshafen AG. NVIDIA also has partnerships with other companies regarding self-driving including Tesla. The company has said that China’s Chery Automobile will be the first carmaker to adopt the new system. Analysts also had some positive things to say about the company this week. William Stein of SunTrust Robinson Humphrey wrote, “Despite our view that 2018 will be a year of growing pains for semis, Nvidia’s strength in AI today, and autonomous driving in the future, make it the king of this jungle in our view.” He also remarked, “While autonomous driving technology was the hottest topic at the [CES] event, we also noticed that much of the discussion centered around co-pilot technology, including the Nvidia-powered Volkswagen ID Buzz.” Mizuho also raised its price target on NVIDIA from $225 to $240. The stock traded nearly 17.6 million shares yesterday.

Access RDI’s NVIDIA Corporation Research Report at:
https://rdinvesting.com/news/?ticker=NVDA

QUALCOMM Incorporated shares closed up 4.39% on Tuesday with almost 24.5 million shares traded. The stock headed higher after it was revealed that the U.S. chipmaker raised its profit forecast and that it may use funds to buy back stock if its $38 billion bid to acquire NXP Semiconductors NV doesn’t come through. The company has adjusted its per share profit forecast to $6.75 to $7.50 in 2019 with revenue of $35 billion to $37 billion. Analysts are expecting profit of $3.79 per share on revenue of $23.59 billion. Chief Financial Officer George Davis said in a webcast, “With tax reform, we are well positioned to complete a large stock buyback that will deliver essentially the same level of accretion to Qualcomm stockholders as if we had closed NXP. Our preference is to close NXP, but not at all costs.” Broadcom made a $103 billion cash and stock offer in November 2017 to buy Qualcomm, which the Company believes is significantly under its value.

Access RDI’s QUALCOMM Incorporated Research Report at:
https://rdinvesting.com/news/?ticker=QCOM

Our Actionable Research on NVIDIA Corporation (NASDAQ: NVDA) and QUALCOMM Incorporated (NASDAQ: QCOM) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 486228