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BofAML sees PC potential for AMD and Nvidia, limited crypto downside

Published 06/04/2018, 09:08 AM
© Reuters.  BofAML sees PC potential for AMD and Nvidia, limited crypto downside
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  • Bank of America Merrill Lynch (NYSE:BAC) reiterates Nvidia (NASDAQ:NVDA) as a top pick and AMD (NASDAQ:AMD) as a Buy due to expanding graphics chip adoption from the PC gaming sector.
  • Analyst Vivek Arya says there’s minimal risk to the market from a demand collapse for cryptocurrency mining.
  • Arya sees the PC gaming market growing 27% annually through 2020, up from the prior forecast of 19% growth.
  • Price targets: Nvidia at $340 and AMD at $17.
  • Source: Bloomberg First Word.
  • AMD shares are up 2.9% premarket to $14.81.
  • Nvidia shares are up 0.6% to $259.19.
  • Now read: In Case We're Wrong About Nvidia


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