DA Davidson keeps a Neutral rating and $120 price target on Nvidia (NVDA). The company disclosed that following the requirement of a China export license, its Q1 results are expected to include up to approximately $5.5B of charges associated with H20 products for inventory, purchase commitments, and related reserves, though the wording of the announcement does not make it clear how much of Nvidia’s sales to China – estimated at 10%-40% of total revenue – is at risk going forward, the analyst tells investors in a research note. The firm awaits for the U.S. government to publish the new regulations which may help shed light on the extent of limitation on Nvidia going forward, DA Davidson added.
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