Today’s Research Reports on Stocks to Watch: Apple and NVIDIA

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Nvidia shares rallied to a new high yesterday despite any significant news released. Traders may still be impressed by the company’s new partnership program announced last week that offers several companies access to Nvidia’s HGX reference architecture early access. Apple may not have seen any gains, but the company was one of the biggest headlines in the market after the company released its long awaited home speaker.  

RDI Initiates Coverage on:

Apple Inc.

NVIDIA Corporation

Apple Inc. shares closed down 0.98% on Monday despite having a huge day yesterday, announcing its new HomePod at the World Wide Developer’s Conference. The Siri-powered smart speaker was announced at the end of the conference with CEO Tim Cook introducing it with saying it was the day’s "one last thing." The HomePod is a 7" speaker that is covered in "acoustic" mesh and has a 4" woofer. It comes with 6 microphones and a beam-forming tweeter and has a price tag of $349. It will be one of the most expensive home speakers in the market when you consider that Amazon’s Echo is only $179. The speaker can play music but also has the ability to let you read the news and other things, by just saying "Hey Siri." This is the command that activates Siri.

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NVIDIA Corporation shares closed up 3.04% yesterday and hit a brand new high of $148.53 during intra-day trading. Though there was no remarkable news to explain the move, there was an article released about the company’s data segment could be its largest in the next few years. The company also launched something big last week. At the Computex conference, Nvidia, along with hyperscale vendors Foxconn, Quanta, Wistron, and Inventec, launched a partner program. NVIDIA is giving each partner early access to its NVIDIA HGX reference architecture as part of the program, as well as its GPU computing technologies and design guidelines. Ian Buck, the general manager of Accelerated Computing at NVIDIA stated, “Through our HGX partner program, device makers can ensure they’re offering the latest AI technologies to the growing community of cloud computing providers.”

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Our Actionable Research on Apple Inc. (NASDAQ: AAPL) and NVIDIA Corporation (NASDAQ: NVDA) can be downloaded free of charge at Research Driven Investing.

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