NEW YORK, NY / ACCESSWIRE / November 29, 2017 / Chipmakers AMD and NVIDIA both saw losses on Tuesday as traders showed concern over an analyst saying the market for cryptocurrency GPUs for mining may not have as big a market as expected. Bitcoin just skyrocketed again to a new all-time high and is nearing $10,000.

RDI Initiates Coverage on:

Advanced Micro Devices, Inc.
http://www.rdinvesting.com/report/?ticker=AMD

NVIDIA Corporation
http://www.rdinvesting.com/report/?ticker=NVDA

Advanced Micro Devices, Inc. shares closed down 3.29% yesterday on a little over 65 million shares traded. It was a day of losses for the stock after analyst Vijay Rakesh of Mizuho said that computing complexity for mining digital currency is creating a shift from a hardware-based approach, which can rely on graphics processing units. These are the kind of units that AMD has. Rakesh remarked, "We believe that while the explosion of bitcoin and ethereum pricing has provided a [near-term] tailwind for Nvidia and AMD, we believe crypto-mining may be a significantly smaller driver in 2018." He also said, "We believe increasing mining complexity in crypto-mining is driving mining away from CPUs/GPUs to farms and clouds of broad ASIC pools. Given the volatility of crypto-mining trends, while there could be softness in 2018 we believe [long-term] it should be a positive for AMD and Nvidia, with a focus on core PC/NB and data center markets.? He currently has a "buy" rating on the stock with a $17 price target.

Access RDI's Advanced Micro Devices, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=AMD

NVIDIA Corporation shares closed down 1.60% on Tuesday with nearly 12.9 million shares traded. Though the stock closed in the red yesterday due to analysts reiterating that the cryptocurrency mining market for graphics chipsets is not as big as people expect, one analyst at RBC Capital thinks the company's GPU's will have more use as the price of ethereum goes higher. According to analyst Mitch Steeves, the price of ethereum going higher will push the value of Nvidia and will increase the use of its GPUS for mining. The analyst has an "outperform" rating on the stock. Ethereum has seen a 2,000% price increase so far in 2017 and miners are purchasing graphics processing units from NVIDIA as well as rival AMD to mine for the cryptocurrency. The demand has helped NVIDIA see a gain of $150 million. It was earlier this month that the company also released its new GPU, the Maxwell-based entry-level GeForce MX130 and MX110, which are discrete mobile GPUs that are OEM-focused. Shares of the stock were up 97% for the year.

Access RDI's NVIDIA Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=NVDA

Our Actionable Research on Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NVDA) can be downloaded free of charge at Research Driven Investing.

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