Analysts expect Nvidia to perform well despite slowing sales from crypto mining

11 Aug, 2018
by Richard Allen
News
Analysts expect Nvidia to perform well despite slowing sales from crypto mining

Despite seeing a decline in sales from self-driving cars and cryptocurrency mining, analysts predict Nvidia will see increased revenues this quarter as the company has seen strong gaming and data-center sales, marketWatch reports.

In the past, Nvidia has seen strong sales from cryptocurrency mining. While analysts predict these sales will decline, the difference will be made up through expected growth in gaming and server sales. Analysts are predicting a 47% increase from gaming revenue to $1.75 billion compared to a year ago, while data-center revenue is expected to jump 78% to $740.1 million.

An analyst at Evercore, C.J. Muse also homed in on Nvidia’s strengths, saying “Data Center/AI remains an area of strength, particularly when considering additional benefit of a new gaming cycle favoring Nvidia.”

“We believe concerns around a likely falloff from cryptocurrency-driven Ethereum GPU mining strength are largely exaggerated, and Nvidia will likely power through any tough compares from Cryptocurrency-driven tailwinds,” Muse added.

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