NVDA) launched its new PC gaming GeForce graphics processing units, the 2nd gen GeForce RTX 30 Series – the 3090, 3080 and 3070 GPUs— all based on the company’s Ampere architecture.” data-reactid=”12″ type=”text”>On Tuesday, Nvidia’s (NVDA) launched its new PC gaming GeForce graphics processing units, the 2nd gen GeForce RTX 30 Series – the 3090, 3080 and 3070 GPUs— all based on the company’s Ampere architecture.
The “30 series” offers gamers and game developers extra performance and flexibility and boasts GPUs with 3D rendering gaming engines, 3rd-gen tensor cores and increased ray-tracing capabilities.
From September 17, the flagship 3080 model will be available for $699. The 3070 will hit the shelves in October for $499, while the Titan-series like 3090 stands out as NVDA’s highest performance GPU and will be available on September 24 for $1,499.
The gaming market is by now a huge ecosystem and has swelled far beyond just games. The PC gaming market numbers 1.5 million gamers, over 20 million live streamers, additional millions of media content creators, and a global audience for eSports events of over 500 million.
Vijay Rakesh believes the new series will provide Nvidia’s competitors with a lot of work to do in order to keep with the GPU leader’s strong product line.” data-reactid=”20″ type=”text”>Mizuho Securities analyst Vijay Rakesh believes the new series will provide Nvidia’s competitors with a lot of work to do in order to keep with the GPU leader’s strong product line.
The 5-star analyst said, “With a 500M eSports audience, 100M GeForce gamers and strong adoption with Fortnite/Minecraft/Call of Duty titles, we believe NVDA is positioned well into 2021… We believe the combination of a strong 3D rendering GPU platform boosted by RTX and AI drive a step up in its value proposition for developers and gamers and create a deeper moat versus the competition for NVDA.”
click here)” data-reactid=”22″ type=”text”>To this end, Rakesh’s Buy rating stays as is while the price target gets a nudge upwards. The figure moves from $520 to $575 and could provide upside of 10.5% from current levels. (To watch Rakesh’s track record, click here)
See Nvidia stock analysis on TipRanks)” data-reactid=”23″ type=”text”>Overall, there’s plenty of support for Nvidia on Wall Street. 24 Buys, 4 Holds and 1 Sell coalesce to a Strong Buy consensus rating. However, the average price target comes in at $546 and implies shares will remain range-bound for now. (See Nvidia stock analysis on TipRanks)
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