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Analyst Hits Nvidia Outlook, Stresses Importance of Non-PC

Those rather short-term concerns are, for the most part, focused on the company’s core business: GPUs for PCs. Forbes reported that Oppenheimer analyst Rick Schafer cut his rating on Nvidia shares to Perform from Outperform and canceled his $17 price target for the company.

That was a rather dramatic move, given Nvidia’s strategy to diversify its business. However, Schafer still indicated that any exposure to the PC business is not seen as an advantage these days. Forbes quoted him saying that Nvidia is “the only traditional PC vendor with a credible mobile diversification strategy,” while adding that “most of its GPU share gains are now reflected in estimates” and cautioning “the absence of share gains leaves [Nvidia] increasingly exposed to secularly declining PC units.”

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