Oppenheimer Reiterates Outperform on NVIDIA

Oppenheimer is out with its report today on NVIDIA NVDA, reiterating Outperform. In its report, Oppenheimer writes, "We reiterate our Outperform and $25 target on NVDA after the company posted in-line 2Q (July) GAAP sales/EPS of $1.02B/$0.25. Outlook for 3Q for 5% Q/Q growth lags seasonal norms by roughly half, but was better than many expected given recent negative PC (and macro) buzz and we expect shares to react favorably today." At the time of posting, shares of NVDA were trading pre-market at $14.88, up 10.96% from Thursday's close.