Bright Side of News writes analysts from Wedbush Morgan are getting more bullish on NVIDIA. Wedbush Morgan upped the target price for NVDA from $10 to $12, as they're seeing a bump in orders and ongoing depletion of channel inventory.
According to the report, the firm decided to raise the outlook "following a round of channel checks, we are optimistic regarding the recent bump in GPU and chipset orders as well as the ongoing depletion of channel inventory." The firm now predicts that 1Q revenue will rise to just a little below $500 million or 2.9% growth; while business seriously recovered following doom and gloom period in December/January. According to the information, NVIDIA has internal inventory of around half a billion USD, which provides the reason why the company went with aggressive rebranding of G92b chips… if you have 500M of unsold 55nm chips, you will do good ole' "old lamps for new, new for old" trick.