Tag Archives: nvda

Tesla Partner Nvidia’s Q1 Sales Seen Speeding Faster Than Most

Wall Street expects Tesla Motors ( TSLA ) partner Nvidia ( NVDA ) to post double-digit sales growth for just the second time in the past six quarters, as well as its biggest earnings growth in five quarters, when the company reports Q1 earnings Thursday. Nvidia stock has zoomed since Feb. 12, up 40% since  Facebook ( FB )-owned Oculus Rift released its first virtual-reality headset. Nvidia and rival Advanced Micro Devices ( AMD ) are the recommended graphics-chip providers for laptops that work with the headsets. Nvidia stock rose a fraction Wednesday to 36.06 ahead of its Q1 report due after the close. For Q1, the consensus of 26 analysts polled by Thomson Reuters expect Nvidia to report $1.26 billion in sales and 32 cents earnings per share ex items, up a respective 10% and 33% vs. the year-earlier quarter. Sales would decelerate from 12% growth in Q4 but top the four previous quarters. Earnings last climbed above the 30%-growth mark in March 2015. Nvidia’s Q1 report comes a week after the chipmaker and Samsung called for a truce  in their two-year licensing battle. It also follows Tesla CEO Elon Musk’s call for the automaker to manufacturer 1 million electric vehicles by 2020 — a boon to Nvidia, whose chips power digital instrument and infotainment displays in the Model S. Tesla’s yet-to-be-released  Model 3 was marked by “overwhelming demand” when it began taking preorders in April, Musk and Tesla CFO Jason Wheeler told shareholders this month.

Tesla Stock Quickly Reverses Lower As Analysts Doubt 2018 Target

Tesla Motors ( TSLA ) shot up after hours Wednesday in the wake of its quarterly report, but shares have quickly reversed lower in the stock market today . The luxury electric car maker says it will produce 500,000 cars annually by 2018, two years sooner than Tesla previously estimated. Deutsche Bank maintained its hold rating on Tesla and raised its price target to 290 from 280. The analyst says the 2018 production goal might be too optimistic, and sees 355,000 units produced that year. Meanwhile, Baird reiterated its outperform rating and raised its price target from 300 to 338, citing the improvement of Model X production issues and several upcoming catalysts. But the analyst also models a lower delivery count than Tesla for 2018, at 300,000. Tesla shares rose initially but quickly reversed lower, crumbling 3.3% intraday on the stock market today . The stock is dropping below the 200-day line and hitting its lowest level in more than a month. Tesla is now about 23% below its high reached last July. Mobileye Meanwhile, Tesla partner Mobileye ( MBLY ) beat quarterly earnings expectations early Thursday. But the maker of advanced driver assistance systems is breaking below its 50-day line, losing 5%, after finding support around that level in Wednesday’s session. Mobileye shares are trading at 45% below their high reached last August. Nvidia And Tesla chip supplier Nvidia ( NVDA ) is looking for support at its 50-day line for a second session, rising fractionally intraday. Shares are now extended about 6% from a buy point that Nvidia cleared in March, and about 6% below its all-time high reached a few weeks ago. Nvidia reports quarterly results next week.

Ludicrous Speed: Elon Musk Sees Tesla Making 1 Million Cars In 2020

Tesla Motors ( TSLA ) CEO Elon Musk predicted Wednesday that the automaker will make one million electric vehicles by 2020, double Tesla’s prior forecast. Musk said on a post earnings call with analysts that 1 million cars that year was his “best guess.” He said Tesla could hit that target using its lone Fremont, Calif., plant and its under-construction Gigafactory in Reno, Nevada, but added that such a strategy might not be optimal. Tesla moved up its prior target of 500,000 vehicles by two years to 2018. Musk said some 100,000-150,000 might be Model S or Model X, with the rest the yet-to-be released Model 3. For perspective, Tesla hopes to produce 80,000-90,000 vehicles this year, after delivering just 14,820 in the first quarter. Some analysts are skeptical that Tesla can ramp up to 500,000 in the next few years, let alone one million, especially at a high level of quality. Tesla faces complaints about errors — bad paint, doors not closing correctly, etc. — but there are few hard numbers about Tesla’s quality and reliability. Tesla touted that it just had its first error-free Model X production last Friday. But deliveries began in September. Before the market close, Tesla confirmed that two production chiefs were leaving the company. Musk was a little less confident on self-driving cars. He said that regulators will need “billions of miles” of mapping data to be convinced that autonomous vehicles are safe. Alphabet, Mobileye Join Crowded Autonomous Road Alphabet ( GOOGL ) this week reached a deal with Fiat Chrysler on self-driving cars. Alphabet’s self-driving unit will develop autonomous versions of Fiat Chrysler minivans. Mobileye ( MBLY ), which provides advanced camera-based driver assistance software to Tesla and several other automakers, reports earnings Thursday morning. Nvidia ( NVDA ), which makes chips for Tesla and other automakers, reports next week. Tesla stock rose about 3% in late trading Wednesday, but that’s after closing down 4.2% on the stock market today , undercutting its 50-day and 200-day moving averages. Mobileye closed down 2.6%, just above its 200-day. Nvidia slid 2.3%, ending just above its 50-day line. Both rose fractionally late.