DOCSLIB.ORG

EQUITY RESEARCH MORNING RESEARCH SUMMARY June 11, 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
EQUITY RESEARCH MORNING RESEARCH SUMMARY June 11, 2020 EQUITY RESEARCH MORNING RESEARCH SUMMARY June 11, 2020 What's Inside Focus Items Initiation ShockWave Medical, Inc. (SWAV) Suraj Kalia, CFA DKNG O DraftKings, Inc. Market Flows Overshadowing Fundamentals; Moving to Perform from Underperform Rating Change GRUB NR ® GrubHub, Inc. HEALTHCARE Michael Wiederhorn SWAV P ­ ShockWave Medical, Inc. Election Series: Biden's Healthcare Plan + Payor Impact Estimates & PT Revisions Jack in the Box, Inc. (JACK) Brian Bittner, CFA ADBE O ­ Adobe Systems Incorporated JACK Is Back; Raise Target To $89 AXGT P ­ Axovant Sciences Ltd. Yum! Brands Inc. (YUM) Brian Bittner, CFA ¯ FIVE O Five Below Encouraging Business Update; Reiterate Outperform JACK O ­ Jack in the Box, Inc. ORCL P ¯ Oracle Corporation Adobe Systems Incorporated (ADBE) Brian Schwartz PRPL O ­ Purple Innovation, Inc. F2Q Preview: Transitory Quarter and Model Update ROKU O ­ Roku, Inc. Oracle Corporation (ORCL) Brian Schwartz SBUX O ¯ Starbucks Corporation Oracle's F4Q Preview and Model Change VRNS O ­ Varonis Systems, Inc. YUM O ­ Yum! Brands Inc. CrowdStrike Holdings, Inc. (CRWD) Shaul Eyal Investors' Meeting Takeaways Updates TECHNOLOGY Shaul Eyal ADI O Analog Devices Virtual Bus Tour Highlights: CyberArk and Varonis CRWD O CrowdStrike Holdings, Inc. CYBR O CyberArk Software Ltd. Analog Devices (ADI) Rick Schafer INTC P Intel Corp. Notes from the Road MPWR O Monolithic Power Systems NVIDIA Corp. (NVDA) Rick Schafer MRVL O Marvell Technology Group Bus Tour Notes Takeaways MXIM P Maxim Integrated Products NVDA O NVIDIA Corp. Marvell Technology Group (MRVL) Rick Schafer SWKS P Skyworks Solutions, Inc. Notes from the Road Estimates/Ratings/Price Target Updates Roku, Inc. (ROKU) Jason Helfstein Annual Estimates Advertising Recovering Faster Than Anticipated; GOOG/TCL Current FY Next FY Ratings Price Targets Headlines Overblown; Maintaining Outperform Company Ticker Prev Curr Prev Curr Prev Curr Prev Curr Other Headlines Technical Analysis Ari Wald, CFA, CMT Adobe Systems ADBE 9.75 9.25 11.80 10.85 O O $410.00 $430.00 Incorporated Color for Fundamental Focus Calls: ADBE, ORCL, NVDA, UNH, Axovant AXGT (2.35) (1.73) (2.25) (1.63) P P NA NA NDAQ, ROKU Sciences Ltd. Five Below FIVE 3.63 1.52 4.40 3.70 O O $140.00 $140.00 For analyst certification and important disclosures, see the Disclosure Appendix. Oppenheimer & Co Inc. 85 Broad Street, New York, NY 10004 Tel: 212-667-7990 Morning Summary - June 11, 2020 GrubHub, Inc. GRUB -- -- -- -- P NR NA NA Axovant Sciences Ltd. (AXGT) Jay Olson, CFA Jack in the Box, JACK 3.77 3.82 4.96 4.97 O O $75.00 $89.00 Quarterly Update Outlines Key Catalysts Inc. Oracle ORCL 3.91 3.79 4.31 4.06 P P NA NA GrubHub, Inc. (GRUB) Jason Helfstein Corporation Just Eat Takeaway.com to Acquire GrubHub for $7.3B; Moving to Purple PRPL 0.51 0.63 0.55 0.57 O O $19.00 $19.00 Innovation, Inc. Not Rated Roku, Inc. ROKU -- -- -- -- O O $135.00 $140.00 DraftKings, Inc. (DKNG) Jed Kelly, CFA ShockWave SWAV (2.32) (2.32) (2.08) (2.08) U P $23.00 NA Sharp Side on Proven Executor in Fast-Growing Sports Betting Medical, Inc. Market; Initiating with Outperform and $48 Price Target Starbucks SBUX 1.42 0.81 2.59 2.57 O O $85.00 $85.00 Corporation TECHNOLOGY Ittai Kidron Varonis VRNS (1.15) (1.15) (0.50) (0.50) O O $70.00 $95.00 Systems, Inc. Virtual Bus Tour Highlights: VMware and Citrix Yum! Brands YUM 2.81 2.92 3.83 3.83 O O $93.00 $103.00 Inc. Intel Corp. (INTC) Rick Schafer Bus Tour Notes Monolithic Power Systems (MPWR) Rick Schafer Virtual Bus Tour Notes Maxim Integrated Products (MXIM) Rick Schafer Notes from the Road Skyworks Solutions, Inc. (SWKS) Rick Schafer Notes from the Road TECHNOLOGY Rick Schafer Daily Chip Clips Starbucks Corporation (SBUX) Brian Bittner, CFA Thoughts on Recent Update; Maintain Outperform Five Below (FIVE) Brian Nagel, CFA Long-term EPS Power for FIVE Intact Purple Innovation, Inc. (PRPL) Brian Nagel, CFA Adjusting Model to Reflect Upbeat Business Update 2 Morning Summary -June 11, 2020 Snap Commentaries - Equities Updates Suraj Kalia, CFA HEALTHCARE 212-667-5387 ShockWave Medical, Inc. (SWAV - $46.67) Medical Devices Rating / Prior Market Cap Price Target / Prior Earnings Type 2019A 2020E 2021E P / U $1,486.9M NA / $23.00 EPS (1.80) (2.32) (2.08) Market Flows Overshadowing Fundamentals; Moving to Perform from Underperform We are upgrading ShockWave to a Perform rating (from our prior Underpeform/$23 PT). Consistent with the broader market, SWAV has rallied ~40% since early April (vs. the S&P 500 up ~24%), and now trades at ~15x FY21E P/S, one of the highest valuations in medtech-land. Recent news about C-codes for IVL is, in our view, adding more "speculation" into the name, despite the same codes currently being used for IVL billing. This "cost-analysis" exercise by CMS will be used to determine final rates, which might take a few years. Our overall frustration should be obvious in this note. We have been dead wrong on the timing of the downgrade. We do, however, stick with our field checks on the fundamentals. HEALTHCARE Michael Wiederhorn 954-356-8312 Election Series: Biden's Healthcare Plan + Payor Impact As we are fast approaching the important 2020 presidential election, we are taking a look at how policy could look in 2021 and beyond. We believe the COVID-19 pandemic is certain to bring healthcare to the forefront of the upcoming election, especially in light of the rapidly growing unemployment rate that is certain to affect insurance coverage throughout the country. Former VP Joe Biden is reportedly leading President Trump in the polls, although the election remains months away. At this point, we have a good sense for how HHS will operate under President Trump, but in today's report, we took a closer look at how policy might look under a Biden administration and more specifically how an expansion of Medicare would impact the insurers. The former VP has presented various healthcare policies that would strengthen the ACA, expand Medicare to the age 60–64 population, implement a public option, and allow prescription drug price negotiations. Brian Bittner, CFA CONSUMER 212-667-7127 Jack in the Box, Inc. (JACK - $71.03) Restaurants Rating Market Cap Price Target / Prior Earnings Type 2019A 2020E / Prior 2021E / Prior O $1,610.4M $89.00 / $75.00 EPS 4.35 3.82 / 3.77 4.97 / 4.96 JACK Is Back; Raise Target To $89 Ahead of JACK's participation in Oppenheimer's Consumer Conference on 6/16, the company provided a business update which implies SSS are positive high-singles since early-May. These recent trends are industry-leading and above consensus despite JACK's higher exposure to breakfast and late-night dayparts. Based on our work, we believe positive EBITDA revisions 3 Morning Summary -June 11, 2020 to '21E will be a key theme. Yet the model remains underappreciated by the market with valuation still a massive 30%+ discount to peers all while incoming CEO (starts next week) adds another layer to an improving story. Reiterate Outperform, raise estimates and increase target to $89 from $75. Brian Bittner, CFA CONSUMER 212-667-7127 Yum! Brands Inc. (YUM - $95.56) Restaurants Rating Market Cap Price Target / Prior Earnings Type 2019A 2020E / Prior 2021E O $28,762.2M $103.00 / $93.00 EPS 3.73 2.92 / 2.81 3.83 Encouraging Business Update; Reiterate Outperform After evaluating YUM's June 10th business update, it appears global SSS for TB and PH are recovering ahead of consensus while KFC's recovery appears to be in line. We carefully apply all moving pieces to our updated financial model and our 2021 EPS stays unchanged at $3.83, which sits above the Street's $3.73E. We view the global KFC business as the most important potential upside driver from here given: 1) it represents the largest business segment (roughly half of YUM's profits); 2) consensus underwrites negative SSS through year-end; and 3) opportunities for a stronger KFC recovery are now taking shape. Reiterate Outperform and raise price target to $103 from $93. 4 Morning Summary -June 11, 2020 Brian Schwartz TECHNOLOGY 415-399-5732 Adobe Systems Incorporated (ADBE - $406.82) SaaS/Applications Software Rating Market Cap Price Target / Prior Earnings Type 2019A 2020E / Prior 2021E / Prior O $196,006.2M $430.00 / $410.00 EPS 7.87 9.25 / 9.75 10.85 / 11.80 F2Q Preview: Transitory Quarter and Model Update We believe Adobe remains well-positioned to achieve its long-term financial goals. Our industry checks reveal good enterprise demand for Adobe with the company increasingly viewed as a cornerstone of customer-engagement-and-experience driven digital transformations. Certain segments of the business (i.e., commerce, messaging, e-signature, analytics) are experiencing accelerating demand during the Covid-19 pandemic while cycles for the distressed industries extend. Last, use cases in marketing departments are shifting from driving consumer-traffic via behavioral-targeting to brand promotion and messaging. This shift should benefit bookings by increasing usage and adoption of Adobe's creative software and Experience Cloud technologies. Bottom Line: We see F2Q as a transitory-quarter. Beyond F2Q we expect customers will continue viewing Adobe's technology as mission-critical driven by the immediate needs for digitizing, brand promotion and messaging. Raise PT to $430 (from $410). Brian Schwartz TECHNOLOGY 415-399-5732 Oracle Corporation (ORCL - $54.18) SaaS/Applications Software Rating Market Cap Price Target Earnings Type 2019A 2020E / Prior 2021E / Prior P $170,861.2M NA EPS 3.52 3.79 / 3.91 4.06 / 4.31 Oracle's F4Q Preview and Model Change We maintain our Perform rating and revise lower our forecast.
Load more

Recommended publications
  • NVIDIA GEFORCE GT 630 Step up to Better Video, Photo, Game, and Web Performance
    NVIDIA GEFORCE GT 630 Step up to better video, photo, game, and web performance. Every PC deserves dedicated graphics. The NVIDIA® GeForce® GT 630 graphics card delivers a premium multimedia experience “Sixty percent of integrated and reliable gaming—every time. Insist on NVIDIA dedicated graphics owners want dedicated graphics for the faster, more immersive performance your graphics in their next PC1”. customers want. GEFORCE GT 630 TECHNICAL SPECIFICATIONS CUDA CORES > 96 GRAPHICS CLOCK > 810 MHz PROCESSOR CLOCK > 1620 MHz Deliver more Accelerate performance by up Give customers the freedom performance—and fun— to 5x over today’s integrated to connect their PC to any MEMORY INTERFACE with amazing HD video, graphics solutions2 and provide 3D-enabled TV for a rich, > 128 Bit photo, web, and gaming. additional dedicated memory. cinematic Blu-ray 3D experience FRAME BUFFER in their homes4. > 512/1024 MB GDDR5 or 1024 MB DDR3 MICROSOFT DIRECTX > 11 BEST-IN-CLASS PERFORMANCE MICROSOFT DIRECTCOMPUTE > Yes BLU-RAY 3D4 > Yes TRUEHD AND DTS-HD AUDIO BITSTREAMING > Yes NVIDIA PHYSX™-READY > Yes MAX. ANALOG / DIGITAL RESOLUTION > 2048x1536 (analog) / 2560x1600 (digital) DISPLAY CONNECTORS > Dual Link DVI, HDMI, VGA NVIDIA GEFORCE GT 630 | SELLSHEET | MAY 12 NVIDIA® GEFORCE® GT 630 Features Benefits HD VIDEOS Get stunning picture clarity, smooth video, accurate color, and precise image scaling for movies and video with NVIDIA PureVideo® HD technology. WEB ACCELERATION Enjoy a 2x faster web experience with the latest generation of GPU-accelerated web browsers (Internet Explorer, Google Chrome, and Firefox) 5. PHOTO EDITING Perfect and share your photos in half the time with popular apps like Adobe® Photoshop® and Nik Silver EFX Pro 25.
    [Show full text]
  • Data Sheet: Quadro GV100
    REINVENTING THE WORKSTATION WITH REAL-TIME RAY TRACING AND AI NVIDIA QUADRO GV100 The Power To Accelerate AI- FEATURES > Four DisplayPort 1.4 Enhanced Workflows Connectors3 The NVIDIA® Quadro® GV100 reinvents the workstation > DisplayPort with Audio to meet the demands of AI-enhanced design and > 3D Stereo Support with Stereo Connector3 visualization workflows. It’s powered by NVIDIA Volta, > NVIDIA GPUDirect™ Support delivering extreme memory capacity, scalability, and > NVIDIA NVLink Support1 performance that designers, architects, and scientists > Quadro Sync II4 Compatibility need to create, build, and solve the impossible. > NVIDIA nView® Desktop SPECIFICATIONS Management Software GPU Memory 32 GB HBM2 Supercharge Rendering with AI > HDCP 2.2 Support Memory Interface 4096-bit > Work with full fidelity, massive datasets 5 > NVIDIA Mosaic Memory Bandwidth Up to 870 GB/s > Enjoy fluid visual interactivity with AI-accelerated > Dedicated hardware video denoising encode and decode engines6 ECC Yes NVIDIA CUDA Cores 5,120 Bring Optimal Designs to Market Faster > Work with higher fidelity CAE simulation models NVIDIA Tensor Cores 640 > Explore more design options with faster solver Double-Precision Performance 7.4 TFLOPS performance Single-Precision Performance 14.8 TFLOPS Enjoy Ultimate Immersive Experiences Tensor Performance 118.5 TFLOPS > Work with complex, photoreal datasets in VR NVIDIA NVLink Connects 2 Quadro GV100 GPUs2 > Enjoy optimal NVIDIA Holodeck experience NVIDIA NVLink bandwidth 200 GB/s Realize New Opportunities with AI
    [Show full text]
  • Download Gtx 970 Driver Download Gtx 970 Driver
    download gtx 970 driver Download gtx 970 driver. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future? If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Another way to prevent getting this page in the future is to use Privacy Pass. You may need to download version 2.0 now from the Chrome Web Store. Cloudflare Ray ID: 67a229f54fd4c3c5 • Your IP : 188.246.226.140 • Performance & security by Cloudflare. GeForce Windows 10 Driver. NVIDIA has been working closely with Microsoft on the development of Windows 10 and DirectX 12. Coinciding with the arrival of Windows 10, this Game Ready driver includes the latest tweaks, bug fixes, and optimizations to ensure you have the best possible gaming experience. Game Ready Best gaming experience for Windows 10. GeForce GTX TITAN X, GeForce GTX TITAN, GeForce GTX TITAN Black, GeForce GTX TITAN Z. GeForce 900 Series: GeForce GTX 980 Ti, GeForce GTX 980, GeForce GTX 970, GeForce GTX 960. GeForce 700 Series: GeForce GTX 780 Ti, GeForce GTX 780, GeForce GTX 770, GeForce GTX 760, GeForce GTX 760 Ti (OEM), GeForce GTX 750 Ti, GeForce GTX 750, GeForce GTX 745, GeForce GT 740, GeForce GT 730, GeForce GT 720, GeForce GT 710, GeForce GT 705.
    [Show full text]
  • Datasheet Quadro K600
    ACCELERATE YOUR CREATIVITY NVIDIA® QUADRO® K620 Accelerate your creativity with FEATURES ® ® > DisplayPort 1.2 Connector NVIDIA Quadro —the world’s most > DisplayPort with Audio > DVI-I Dual-Link Connector 1 powerful workstation graphics. > VGA Support ™ The NVIDIA Quadro K620 offers impressive > NVIDIA nView Desktop Management Software power-efficient 3D application performance and Compatibility capability. 2 GB of DDR3 GPU memory with fast > HDCP Support bandwidth enables you to create large, complex 3D > NVIDIA Mosaic2 SPECIFICATIONS models, and a flexible single-slot and low-profile GPU Memory 2 GB DDR3 form factor makes it compatible with even the most Memory Interface 128-bit space and power-constrained chassis. Plus, an all-new display engine drives up to four displays with Memory Bandwidth 29.0 GB/s DisplayPort 1.2 support for ultra-high resolutions like NVIDIA CUDA® Cores 384 3840x2160 @ 60 Hz with 30-bit color. System Interface PCI Express 2.0 x16 Quadro cards are certified with a broad range of Max Power Consumption 45 W sophisticated professional applications, tested by Thermal Solution Ultra-Quiet Active leading workstation manufacturers, and backed by Fansink a global team of support specialists, giving you the Form Factor 2.713” H × 6.3” L, Single Slot, Low Profile peace of mind to focus on doing your best work. Whether you’re developing revolutionary products or Display Connectors DVI-I DL + DP 1.2 telling spectacularly vivid visual stories, Quadro gives Max Simultaneous Displays 2 direct, 4 DP 1.2 you the performance to do it brilliantly. Multi-Stream Max DP 1.2 Resolution 3840 x 2160 at 60 Hz Max DVI-I DL Resolution 2560 × 1600 at 60 Hz Max DVI-I SL Resolution 1920 × 1200 at 60 Hz Max VGA Resolution 2048 × 1536 at 85 Hz Graphics APIs Shader Model 5.0, OpenGL 4.53, DirectX 11.24, Vulkan 1.03 Compute APIs CUDA, DirectCompute, OpenCL™ 1 Via supplied adapter/connector/bracket | 2 Windows 7, 8, 8.1 and Linux | 3 Product is based on a published Khronos Specification, and is expected to pass the Khronos Conformance Testing Process when available.
    [Show full text]
  • NVIDIA AI-On-5G Computing Platform Adopted by Leading Service and Network Infrastructure Providers
    NVIDIA AI-on-5G Computing Platform Adopted by Leading Service and Network Infrastructure Providers Fujitsu, Google Cloud, Mavenir, Radisys and Wind River to Deliver Solutions for Smart Hospitals, Factories, Warehouses and Stores GTC -- NVIDIA today announced it is teaming with Fujitsu, Google Cloud, Mavenir, Radisys and Wind River to develop solutions for NVIDIA’s AI-on-5G platform, which will speed the creation of smart cities and factories, advanced hospitals and intelligent stores. Enterprises, mobile network operators and cloud service providers that deploy the platform will be able to handle both 5G and edge AI computing in a single, converged platform. The AI-on-5G platform leverages the NVIDIA Aerial™ software development kit with the NVIDIA BlueField®-2 A100 — a converged card that combines GPUs and DPUs including NVIDIA’s “5T for 5G” solution. This creates high-performance 5G RAN and AI applications in an optimal platform to manage precision manufacturing robots, automated guided vehicles, drones, wireless cameras, self-checkout aisles and hundreds of other transformational projects. “In this era of continuous, accelerated computing, network operators are looking to take advantage of the security, low latency and ability to connect hundreds of devices on one node to deliver the widest range of services in ways that are cost-effective, flexible and efficient,” said Ronnie Vasishta, senior vice president of Telecom at NVIDIA. “With the support of key players in the 5G industry, we’re delivering on the promise of AI everywhere.” NVIDIA and several collaborators in this new AI-on-5G ecosystem are members of the O-RAN Alliance, which is developing standards for more intelligent, open, virtualized and fully interoperable mobile networks.
    [Show full text]
  • FORM 10-K ☑ ANNUAL REPORT PURSUANT to SECTION 13 OR 15(D) of the SECURITIES EXCHANGE ACT of 1934 for the Fiscal Year Ended October 2, 2020 OR
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 2, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ Commission file number 001-05560 Skyworks Solutions, Inc. (Exact name of registrant as specified in its charter) Delaware 04-2302115 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 5260 California Avenue Irvine California 92617 (Address of principal executive offices) (Zip Code) (949) 231-3000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.25 per share SWKS Nasdaq Global Select Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☑ Yes o No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. o Yes ☑ No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Nvidia A100 Supercharges Cfd with Altair and Google Cloud
    NVIDIA A100 SUPERCHARGES CFD WITH ALTAIR AND GOOGLE CLOUD Image courtesy of Altair Ultra-Fast CFD powered by Altair, Google TAILORED FOR YOU Cloud, and NVIDIA > Get exactly as many GPUs as you need, for exactly as long as you need them, and pay The newest A2 VM family on Google Cloud Platform was designed to just for that. meet today’s most demanding applications. With up to 16 NVIDIA® A100 Tensor Core GPUs in a node, each offering up to 20X the compute FASTER OUT OF THE BOX performance of the previous generation and a whopping total of up to > The new Ampere GPU architecture on Google Cloud A2 instances delivers 640GB of GPU memory, CFD simulations with Altair ultraFluidX™ were the unprecedented acceleration and flexibility ideal candidate to test the performance and benefits of the new normal. to power the world’s highest-performing elastic data centers for AI, data analytics, With ultraFluidX, highly resolved transient aerodynamics simulations and HPC applications. can be performed on a single server. The Lattice Boltzmann Method is a perfect fit for the massively parallel architecture of NVIDIA GPUs, THINK THE UNTHINKABLE and sets the stage for unprecedented turnaround times. What used to > With a total of up to 312 TFLOPS FP32 peak be overnight runs on single nodes now becomes possible within working performance in the same node linked with NVLink technology, with an aggregate hours by utilizing state-of-the-art GPU-optimized algorithms, the new bandwidth of 9.6TB/s, new solutions to NVIDIA A100, and Google Cloud’s A2 VM family, while delivering the high many tough challenges are within reach.
    [Show full text]
  • NVIDIA and Tech Leaders Team to Build GPU-Accelerated Arm Servers for New Era of Diverse HPC Architectures
    NVIDIA and Tech Leaders Team to Build GPU-Accelerated Arm Servers for New Era of Diverse HPC Architectures Arm, Ampere, Cray, Fujitsu, HPE, Marvell to Build NVIDIA GPU-Accelerated Servers for Hyperscale-Cloud to Edge, Simulation to AI, High-Performance Storage to Exascale Supercomputing SC19 -- NVIDIA today introduced a reference design platform that enables companies to quickly build GPU-accelerated Arm®-based servers, driving a new era of high performance computing for a growing range of applications in science and industry. Announced by NVIDIA founder and CEO Jensen Huang at the SC19 supercomputing conference, the reference design platform -- consisting of hardware and software building blocks -- responds to growing demand in the HPC community to harness a broader range of CPU architectures. It allows supercomputing centers, hyperscale-cloud operators and enterprises to combine the advantage of NVIDIA's accelerated computing platform with the latest Arm-based server platforms. To build the reference platform, NVIDIA is teaming with Arm and its ecosystem partners -- including Ampere, Fujitsu and Marvell -- to ensure NVIDIA GPUs can work seamlessly with Arm-based processors. The reference platform also benefits from strong collaboration with Cray, a Hewlett Packard Enterprise company, and HPE, two early providers of Arm-based servers. Additionally, a wide range of HPC software companies have used NVIDIA CUDA-X™ libraries to build GPU-enabled management and monitoring tools that run on Arm-based servers. “There is a renaissance in high performance computing,'' Huang said. “Breakthroughs in machine learning and AI are redefining scientific methods and enabling exciting opportunities for new architectures. Bringing NVIDIA GPUs to Arm opens the floodgates for innovators to create systems for growing new applications from hyperscale-cloud to exascale supercomputing and beyond.'' Rene Haas, president of the IP Products Group at Arm, said: “Arm is working with ecosystem partners to deliver unprecedented performance and efficiency for exascale-class Arm-based SoCs.
    [Show full text]
  • Skyworks Launches Breakthrough Sky5™ Platform
    Skyworks Launches Breakthrough Sky5™ Platform January 9, 2018 Empowering Revolutionary 5G Global Communications LAS VEGAS--(BUSINESS WIRE)--Jan. 9, 2018-- Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today introduced Sky5 ™, its suite of solutions that will support 5G wireless communications and enable a multitude of new and previously unimagined applications across mobile and Internet of Things (IoT) ecosystems. With decades of experience in developing innovative connectivity platforms for each previous generation of wireless standards, Skyworks is leveraging its vast technology portfolio, systems expertise, leadership scale and strong customer relationships to accelerate the deployment of 5G. More specifically, Skyworks’ Sky5™ solutions encompass its highly innovative transmit and receive systems targeting the world’s most demanding wireless end markets. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180109005734/en/ “Today Skyworks introduces our breakthrough Sky5™ platform, enabling the next-generation of wireless communications,” said Liam K. Griffin, president and chief executive officer of Skyworks. “5G is a macro-economic game changer that will revolutionize the global communication landscape with significantly more powerful and complex connectivity engines. As a leader in unwiring the planet, Skyworks is well-positioned to capitalize on the demand for robust and dramatically increased
    [Show full text]
  • Quadro Vws on Google Cloud Platform
    Industry Support for Quadro vWS on Google Cloud Platform “Access to NVIDIA Quadro Virtual Workstation on the Google Cloud Platform will empower many of our customers to deploy and start using Autodesk software quickly, from anywhere. For certain workflows, customers leveraging NVIDIA T4 and RTX technology will see a big difference when it comes to rendering scenes and creating realistic 3D models and simulations. We’re excited to continue to collaborate with NVIDIA and Google to bring increased efficiency and speed to artist workflows." - Eric Bourque, Senior Software Development Manager, Autodesk “Many organizations are seeing the need for greater flexibility as they transition into a multi and hybrid cloud environment. NVIDIA Quadro Virtual Workstation alongside Citrix Workspace cloud services on the GCP Marketplace ensures today's workforce can have instant access to graphically rich 3D applications, from anywhere. With support for the latest Turing architecture-based NVIDIA T4 GPUs, we can assure Citrix Workspace users can experience interactive, high-fidelity rendering with RTX technology on GCP.” - James Hsu, Technical Alliance Director, Citrix “CL3VER has changed the way customers engage with products. Our cloud-based real-time rendering solution enables customers to interact with and visualize 3D content directly to the web. With Quadro vWS from the GCP marketplace powered by NVIDIA T4 and RTX technology, customers can now experience products on physical showrooms virtually with photorealistic quality, visualize 3D scenes in real-time,
    [Show full text]
  • Nvidia Buy Pitch
    Colgate Investment Group Ticker: NVDA Nvidia Market Cap: 309,045.2 mm Buy Pitch Div Yield: 0.1% Sector: TMT Silicon Spring 2021 Current Price: $498.46 CEO Salary: $1,815,360 Matt, Matt, & Ben Company Overview NVIDIA Corporation ● Founded in 1993 ● Headquarters in Santa Clara, California C-Suite 18,975 ● CEO: Jen-Hsun Huang Number of Employees ● CFO: Colette Kress Operating Segments ● GPU ○ used in PC gaming, cloud-based gaming, designing, special effects, and artificial intelligence. ● Tegra Processor. 61.8% Normalized Net Income ○ more mobile based, used in artificial intelligence computing, self-driving Growth for 2021 vehicles, medical instruments, and robotics Company Quality Characteristics Important Financials QCOM → as a comparison ● Low debt-to-equity ratio (.35 as of 1/31/21) ● Debt-to-equity 2.06 52.73% ○ decreased in past two quarters ● Current ratio 2.15 Revenue Growth 2020 → 2021 ● 30.67 Operating margin - 1/31/21 ● ROA 15.13 Gross Margin Summary 67.53% ● Overall strong growth profile EPS growth vs. previous year ● Revenue growth >50% over the last year ● High EPS growth and ROA indicating profitability for shareholders 19.65 ROA - 1/31/21 Source: zacks.com Capital Structure Overview ● NVIDIA invests significantly in R&D, source of most of their debt ● Manufacturing is outsourced to third-party companies ● Acquired more debt in the past couple of years, indicates there may be a potential ~46% Debt to Equity innovation due to subsequent investment in R&D ○ Total Debt: 7,718m ○ Total Common Equity: 16,893m ○ Total Capital:
    [Show full text]
  • Advanced Micro Devices (AMD)
    Strategic Report for Advanced Micro Devices, Inc. Tad Stebbins Andrew Dialynas Rosalie Simkins April 14, 2010 Advanced Micro Devices, Inc. Table of Contents Executive Summary ............................................................................................ 3 Company Overview .............................................................................................4 Company History..................................................................................................4 Business Model..................................................................................................... 7 Market Overview and Trends ...............................................................................8 Competitive Analysis ........................................................................................ 10 Internal Rivalry................................................................................................... 10 Barriers to Entry and Exit .................................................................................. 13 Supplier Power.................................................................................................... 14 Buyer Power........................................................................................................ 15 Substitutes and Complements............................................................................ 16 Financial Analysis ............................................................................................. 18 Overview ............................................................................................................
    [Show full text]