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<Research>HSBC Research: H20 Restriction Surprising; Rating Kept at Hold on Nvidia (NVDA.US)
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The US government imposed new licensing requirements for export of H20 chips to China, and it is difficult to say whether Nvidia (NVDA.US) will be able to obtain the license, HSBC Global Research issued a research report saying. Management expected that a US$5.5 billion charge will be made in 1FQ26 for inventory, purchase commitments and related reserve charges related to H20 products. However, HSBC Global Research believed that Nvidia can make up for the potential loss of H20 chip revenue in 1FQ26 by increasing shipments of Blackwell/ Hopper chips. Therefore, the broker maintained its 1FQ26 revenue forecast at US$43.9 billion unchanged, and kept rating at Hold, with a target price of US$120. AAStocks Financial News |
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