Shares of Advanced Micro Devices Inc. (AMD) and Nvidia Corp. (NVDA) are up 2.9% and 2.3%, respectively, in premarket trading Wednesday, after Mizuho analyst Vijay Rakesh wrote of a rebound in GPU prices. "We believe, with GPU pricing starting to turn up 10% to 15% from the September lows and for the first time in eight months, it should be positive for Nvidia and AMD, pointing to a faster normalizing of channel inventories and demand elasticity," he said. "We believe the upside pricing inflection should be a preliminary positive read on channel inventories and demand." Nvidia shares have come under pressure recently after management warned of a "crypto hangover" (http://www.marketwatch.com/story/crypto-hangover-has-nvidia-staggering-into-holidays-with-a-big-headache-2018-11-15) in conjunction with the company's latest earnings report. Shares of Nvidia have dropped 44% over the past three months, while shares of AMD are off 16%. The S&P 500 has lost 7.4% over a three-month period.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 28, 2018 08:30 ET (13:30 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.