Citi Analyst: VR/AR Will Drive Nvidia Stock

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Citi Analyst: VR/AR Will Drive Nvidia Stock
November 2, 2016
Above picture credits: David Paul Morris | Bloomberg | Getty Images - Jen-Hsun Huang, CEO of Nvidia, holds a Nvidia Drive PX Auto-Pilot Computer during the GPU Technology Conference in San Jose, California, last March.

Buy Nvidia on transformation into virtual reality, autonomous driving supplier, Citi says.
 
Citi Research initiated coverage of Nvidia with a buy rating as the company's new end markets will drive better-than-expected financial results.
 
"We believe Street is underestimating sales/earnings growth in next three years as Nvidia continues to transform itself from a PC to a diversified gaming, data center and auto graphics company," analyst Atif Malik wrote in a note to clients Wednesday.
 
"We view NVDA stock as a play on multiple secular themes like VR/AR gaming, deep learning, artificial intelligence and self-driving cars."
 
Tesla announced in October it will use Nvidia chips for its new self-driving hardware system in Model S, Model X and upcoming Model 3 cars.

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