Oppenheimer Maintains Outperform on Nvidia

Oppenheimer reiterates its Outperform on Nvidia (NASDAQ: NVDA) as the company is purported to be in joint venture talks with Foxconn for a research and development center in China.

Oppenheimer notes, "Foxconn Electronics (Hon Hai Precision Industry) and Nvidia, under coordination with the Tianjin City Government in northern China, signed for establishing a joint venture R&D center specifically for mobile terminal devices and cloud computing-based applications on December 16. ...Some market watchers believe that the two firms' joint venture will mainly work on development of smartphone platforms since Foxconn has been aggressive in investing in mobile communication sectors such as smartphones and Nvidia is also expected to send technology development teams and related resources to the new R&D center."