Cramer’s charts indicate Nvidia’s stock could be due for a pullback

As the stock of semiconductor manufacturer Nvidia tumbled in after-hours trading on news of a Tesla-AMD partnership focused on self-driving cars, CNBC’s Jim Cramer had to figure out what to do next.

Shares of Nvidia hit an all-time high on Monday following several analyst upgrades that cited the company’s promising position in the fields of artificial intelligence, gaming and data centers.

But with the stock now falling from its highs, Cramer wouldn’t blame investors for feeling uneasy about what’s next for Nvidia.

“Perhaps after its rally and this AMD news, the stock actually deserves to get punished. Perhaps this is just one more buying opportunity, though,” the “Mad Money” host said. “You have to know what you’re doing and what could happen to the stock.”

So Cramer enlisted the help of technician Carolyn Boroden, the creator of FibonnacciQueen.com and one of Cramer’s colleagues at RealMoney.com.

Boroden has a notable track record on predicting chipmakers’ stock moves. In August, she said Nvidia’s rally was far from over, predicting upside targets of $180 and $188 with a ceiling at $209.

So far, Nvidia’s stock has followed Boroden’s predicted path, which is based on Fibonacci ratios. She uses the medieval mathematical system to find the levels at which a given stock is likely to change its path based on past swings. She also uses it to find the dates when trajectory changes are the most likely to help investors find the best times to buy or sell.

With Boroden’s methodology in mind, Cramer turned to the daily chart of Nvidia.

Boroden noticed that the stock has already made a 127.2 percent extension of its last swing. An extension, or how much lower a stock’s current decline is than its previous one, tends to mark the end of a stock’s rally, which means Nvidia could be due for a bigger pullback, Cramer said.

Moreover, Nvidia’s longest rallies have lasted between 25 and 29 trading days, and Monday marked the most recent rally’s 25th day. Cramer said the pullback may have already started given the negative action in Nvidia, which means its rally could be tapering out.

Boroden also found that Nvidia tends to lose momentum after running up anywhere from 35 to 42 points. The last time this happened, the stock got hit before restarting its climb.

Cramer doesn’t necessarily think that pattern will repeat itself, but he thought it was worth noting that Nvidia’s shares gained $38.29 from their low on August 11 to their high on Monday, putting it right in the range that indicates the rally may have run its course.

So while Cramer’s charitable trust, which owns shares of Nvidia, isn’t taking any action, Boroden would bless some profit-taking if the stock holds up its historical patterns and starts to decline.

And for investors who don’t own Nvidia, they could be about to get a great buying opportunity in the next week or so, Cramer said.

“Here’s the bottom line: I like Nvidia, but I love protecting your profits even more,” Cramer said. “The charts, as interpreted by Carolyn Boroden, suggest that Nvidia could be due for a $10 to $30 pullback after its recent run, and if you’re nimble, maybe you want to try to sidestep some of that decline. More important, if Nvidia is pulverized like that, well, maybe you get a chance to own a piece of this great semiconductor company with a remarkable number of strengths and very few weaknesses, even as this potential loss of the Tesla business to AMD could certainly be one of them.”

Samsung to Hit Record Profits Due to Increased Demand of DRAM Chips

If you’ve been following the trends in both the smartphone and personal computer space, then you likely know that there is a supply and demand issue happening in regards to memory chips. Due in part by the demand of smartphone components, the demand of memory chips has been increasing over the last year and that trend doesn’t seem to be stopping anytime soon. With Samsung and SK Hynix holding nearly 70% of the global memory semiconductor market, these two companies are poised to make about $42 Billion in profits this year.

If you’ve been wanting to build a computer lately, you likely already know that this isn’t the best time to do so. Cryptocurrency mining has made the price of many video cards go higher than they launched at — that’s if you can find them in stock in the first place. We’re also seeing prices for RAM go up across the board thanks to the supply and demand issue mentioned above. Sure, we don’t see the same types of chips used in computer RAM sticks that we do in smartphones, but it’s those same factories that are producing them.

Desktop computers and mobile phones aren’t the only thing that has caused an increase in demand as of late. Many analysts cite the release of the new iPhone as a big factor here as well. But both Samsung Electronics and SK Hynix have had to convert some of their PC and mobile DRAM production lines to server DRAM lines. So not only are the demands from consumer PCs and mobile causing a strain at these facilities, but there’s also the rapidly rising demand of server DRAM chips.

It can cost a lot of money and time to build a new memory facility too, and if a company overextends then they could end up closing down the plant after the supply and demand issue levels out. Still, companies like Samsung and SK Hynix stand to make a lot of profit this year as they continue to churn out memory chips at increased prices as quickly as possible. Both of these companies are expected to publish record high profits for the third quarter of this year.


Source: Business Korea

Fatal Tesla Autopilot crash due to ‘over-reliance on automation, lack of safeguards’

The United States’ National Transport Safety Board (NTSB) has released its final findings on the fatal crash involving a Tesla Model S operating in semi-autonomous Autopilot mode.

The crash occurred in Flordia in May 2016 when Joshua Brown’s Tesla Model S collided with the underside of a tractor-trailer as the truck turned onto the non-controlled access highway.

Tesla Autopilot system is a level two semi-autonomous driving mode, which is designed to automatically steer and accelerate a car while it’s on a controlled access motorway or freeway with well defined entry and exit ramps.

According to the NTSB, Tesla’s Autopilot functioned as programmed because it was not designed to recognise a truck crossing into the car’s path from an intersecting road. As such, it did not warn the driver or engage the automated emergency braking system.

The report said the “driver’s pattern of use of the Autopilot system indicated an over-reliance on the automation and a lack of understanding of the system limitations”.

The NTSB’s team concluded “while evidence revealed the Tesla driver was not attentive to the driving task, investigators could not determine from available evidence the reason for his inattention”.

It also noted “the truck driver had used marijuana before the crash, his level of impairment, if any, at the time of the crash could not be determined from the available evidence”.

Tesla did not escape blame, with the NTSB calling out the electric car maker for its ineffective methods of ensuring driver engagement.

In issuing the report, Robert L. Sumwalt III, the NTSB’s chairman, said, “System safeguards, that should have prevented the Tesla’s driver from using the car’s automation system on certain roadways, were lacking and the combined effects of human error and the lack of sufficient system safeguards resulted in a fatal collision that should not have happened”.

The electric car maker has since made changes to its Autopilot system, including reducing the interval before it begins warning the driver that their hands are off the steering wheel.

As part of its findings, the NTSB also issued a number of recommendations to various government authorities and car makers with level two self-driving features.

These NTSB called for standardised data logging formats, safeguards to ensure autonomous driving systems are used only in the manner for which they were designed, and improved monitoring of driver engagement in vehicles fitted with autonomous and semi-autonomous safety systems.

Joshua Brown’s family issued a statement through its lawyers earlier this week in anticipation of the NTSB’s report.

“We heard numerous times that the car killed our son. That is simply not the case,” the family said. “There was a small window of time when neither Joshua nor the Tesla features noticed the truck making the left-hand turn in front of the car.

“People die every day in car accidents. Change always comes with risks, and zero tolerance for deaths would totally stop innovation and improvements.”

MORE: Autonomous driving news
MORE: Tesla news, reviews, comparisons and video

Destiny 2 Crashes Due to PlayStation Network Server Issue

Destiny 2 Crashes Due to PlayStation Network Server Issue

The highly anticipated Destiny 2 was released for the PlayStation 4 and Xbox One just two days ago, so of course many gamers have taken time off work, school, and various other responsibilities to take part in the online shooter experience. However, all this excitement was hampered for some gamers, specifically PS4 owners. According to an article from VG247 posted just a day after the game was released, many owners of the Sony system reported various issues with the PlayStation Network that resulted in the slowdown or inability to use the functions on the PS4.

PS4 owners have been complaining everywhere from Reddit to Twitter about the severe slowdown of any function on their console that requires an internet connection, such as accessing the friends list and managing your account. The biggest problem, however, is that this also affects the launching of games. This means that some PS4 owners can’t even play Destiny 2, instead receiving a PS4 error code, CE-34878-0. The official help page for this error says the error could come from updating firmware or formatting the system.

Some PS4 players were able to launch Destiny 2 by disabling HDCP in the System area of the setting’s menu. However, they were still having problems with invites due to the PS4 not being able to tell they’re online. Of course, these PSN issues are affecting more than just games, as non-gaming apps and even vital operations for the PS4 have slowed down considerably.

After various complaints on Twitter, Bungie came forward to say they were aware of the issue, but hadn’t yet come up with a way to fix it.

Thankfully, the problem now seems to have been taken care of. The PSN status pages for both North America and the UK say that “all services are up and running,” and Bungie has confirmed on Twitter that things are now running smoothly.

NASA’s Johnson Space Center remains closed due to Hurricane Harvey – Xinhua

LOS ANGELES, Aug. 30 (Xinhua) — The U.S. National Aeronautics and Space Administration (NASA) said Tuesday that its Johnson Space Center (JSC) in Houston will remain closed to non-mission essential personnel, due to Tropical Storm Harvey.

“The center will reopen Tuesday, Sept. 5,” NASA said in a statement. The agency has also canceled an in-flight news conference on Wednesday with astronauts aboard the International Space Station (ISS).

Due to ongoing effects of the storm, “NASA (is) unable to support media events with AstroPeggy, AstroSabot and AstroAcaba,” the ISS tweeted.

However, flight control of the station is continuing in the Houston-based Mission Control Center, which “is expected to remain in operation throughout this period”, according to the space center.

“The closing also allows the center to focus on the highest priority mission activities, including the landing of three crew members this weekend,” added the JSC, where the space station mission control is located. The center has been closed to all but mission essential personnel since last Friday.

While the vast majority of the workforce was safe, many who had experienced severe flood damage were without power and may need other assistance, said JSC Director Ellen Ochoa, a former astronaut, in a post on Monday.

“Oh boy — looks like a ton of rain is about to unload. Here’s a prayer for family, friends and everyone in Hurricane Harvey’s path — stay safe,” astronaut Jack Fischer, currently in the ISS, posted photos of the storm on his Twitter, when orbiting over hurricane Harvey.

Later, the ISS account shared pictures Fischer photographed from the station’s six-sided observation dome.

“Wish I was up there and not down here,” said Ochoa who retweeted the images.

Tropical Storm Harvey is still causing catastrophic flooding in Houston, as NASA satellites saw the storm’s center moving back into the Gulf of Mexico. Forecasts say thunderstorms may produce more heavy rainfalls in the coming days into next week.

The NASA facility covers 1,700 acres (about 6.88 square km) southeast of Houston Harvey in the state of Texas. The center typically bustles with thousands of scientists, engineers, contractors and other staff, including flight controllers for the ISS.

Category 4 Hurricane Harvey made landfall last Friday night on the Texas coast, later downgraded to a tropical storm. Torrential rain has been pouring down in the area as well as Greater Houston, resulting in heavy flooding and damages.

Samsung Galaxy Note 4 refurbished batteries get recalled due to overheating concerns


This is probably the last bit of news Samsung wanted to pop up in headlines in the weeks leading up to the Note 8 launch. Though, to be fair, this latest battery recall isn’t actually on Samsung.

The US Consumer Product Safety Commission has issued a recall for refurbished Galaxy Note 4 batteries. While the news has undeniable echoes of last year’s massive Note 7 disaster, this time out, the fault appears to fall at the feet of potentially counterfeited batteries supplied by FedEx.

As the company noted in a statement to TechCrunch, “FedEx Supply Chain handles more than the transportation of these devices. We deliver technology-based solutions for customers that include repair, refurbishment and testing.”

The batteries in question were installed in refurbished AT&T Note 4 units. The scale is much smaller than last year’s issues, impacting a little over 10,000 units, and thus far no injuries or property damage has been reported. Instead, there’s only a single case of overheating resulting from the non-OEM batteries. The fact that the Note 4 has a user-replaceable battery should help the whole thing go a bit more smoothly, as well.

FedEx will be mailing out a new battery identified with a green dot to users who got a replacement Note 4 as part of an AT&T insurance program between last December and this past April. The company is also mailing out a pre-paid box to send back the old battery.

“We are closely engaged with our customers to make sure all of these lithium batteries are safely and quickly returned, and will replace those lithium batteries free of charge for consumers,” the company said in a statement provided to TechCrunch. “FedEx Supply Chain places a high priority on the safe handling, packaging, and transport of our customers’ products and regrets any inconvenience this recall may cause.”

FedEx would not provide any more information regarding the origin of the batteries in question.

Call of Duty Team Forced to Forfeit World League Championship Match Due to Controller Issues

To end a run in a $1.5 million prize pool match is difficult more than enough, but being forced out because of to a controller concern is heartbreaking. And that’s how Elevate’s run arrived to a shut in Simply call of Duty’s 2017 Globe League Championship.

For context, Elevate was in a match versus Mindfreak Black with the scoreline at 1-2, respectively. Elevate started off the third map strong, gaining a 30 in addition stage gain around Mindfreak, but that’s when points took a flip for the worse.

Zach ‘Zed’ Denyer, one of Elevate’s vital players, began to experience controller troubles. According to Elevate CEO Brandon Hatfield, Zed let the referees know of the condition as quickly as achievable, but they couldn’t do anything at all. MLG’s rules explicitly say that controller troubles are the players’ responsibility, and if there are any troubles, it is on the player and workforce.

That stated, MLG allows the opposing workforce the solution of granting a map replay. “Mindfreak had the solution to replay the video game, from the commence – very simple as that,” Hatfield mentioned in a Twitlonger tweet. “The Mindfreak players wanted to replay the video game only if they ended up given a lead (~60 points if I am being informed the right way). The Elevate players wanted to replay the map, but MLG would only allow a clean map restart, due to the fact it is a respawn map.”

Sadly, mainly because of the existing ruleset, and Mindfreak’s problem for a rating gain, no compromise could be located. In the end, the MLG officers dominated the past map in favor of Mindfreak Black resulting in a 3-1 sequence gain.

“It is a certainly heartbreaking condition for any player on the shedding side,” Hatfield continued. “Do I would like Mindfreak would have replayed the map? Yeah, totally – its the proper matter to do. Its a shame they took that gain. I really don’t really treatment what any one states to me. It was not an honorable gain. I was raised otherwise I guess. Regardless, I really don’t want to blame the org or players much too significantly. In the end, this is much too major of a match for complex troubles to establish the result. I would like this video game had a way to pause. I would like MLG had various rules. I would like a great deal was various about this video game and scene in basic.”

With the 2017 Globe Championship being the past major celebration for Simply call of Responsibility: Infinite Warfare, we will have to see what Activision and Sledgehammer Game titles plan to do with WWII’s esports.

Buy Nvidia before earnings due to gaming strength: Jefferies

Nvidia is the best-performing stock over the past year. But even after the big run, one Wall Street analyst predicts the chipmaker will beat expectations later this week.

For the July quarter earnings “we … see upside to estimates in gaming and data center. We think core PC Gaming will benefit from increased demand for Nintendo’s Switch and mining GPUs for cryptocurrency,” Jefferies semiconductor analyst Mark Lipacis wrote in a note to clients Wednesday.

Lipacis reiterated his buy rating and his $180 price target for Nvidia, representing 6 percent upside to Tuesday’s close.

He cited AMD’s and Intel’s strong recent product pricing trends as positive indicators for Nvidia.

“Both INTC and AMD reported ASP [average selling price] related upside in client computing during 2Q17, we believe NVDA will report similar ASP benefits in its July quarter results,” Lipacis wrote.

As a result, the analyst estimates Nvidia will report earnings per share of 72 cents for the July quarter versus the Wall Street consensus of 70 cents.

Lipacis is also optimistic about the company’s future product pipeline.

“We expect NVDA to begin shipping its next-gen Volta GPU architecture optimized for neural network training [artificial intelligence] in 3Q17,” he wrote. “Our field work indicates that the tensor cores (matrix multiplication) NVDA has put into Volta extends NVDA’s lead over competitive merchant neural networking processors.”

Nvidia’s stock is up nearly 190 percent in the past 12 months through Tuesday compared with the S&P 500’s 13 percent return. That performance ranks No. 1 in the entire S&P 500, according to FactSet.

The company will report fiscal second-quarter results on Thursday, according to its website.

NVIDIA Recalls European Plug Heads Sold with Power Adaptors Due to Electric Shock Hazard

Recall Summary

Name of Product: European plug heads for NVIDIA SHIELD™ power adaptors

Hazard: The plug heads can break exposing metal prongs, posing an electric shock hazard.

Remedy: Replace

Consumers should immediately stop using the recalled European plug heads and contact NVIDIA for a free replacement.

Consumer Contact:  NVIDIA toll-free at 800-797-6530 anytime or online at www.nvidia.com and click on USA/Canada Link, then click on the support tab located at the top of the page.

Recall Details

Units: About 6,900 (in addition, about 360 were sold in Canada)

Description: This recall involves European plug heads for power adaptors included with NVIDIA SHIELD™ World Charger Kits, as well as with NVIDIA SHIELD tablet computers and TVs intended for use in Europe. The European plug head has two thin round metal prongs within a black plastic hexagonal extender on a black plastic base plate that can be attached to the power adaptor. The power adaptor has the model number SPA011AU5W2 and the NVIDIA name and logo etched on the side of the power adaptor where the European plug head can be attached. There are six different plug heads that come with the World Charger Kit. Only the European plug head is being recalled.

Incidents/Injuries: There have been no reports of injuries or incidents in the U.S. NVIDIA has received nine reports of the European plug heads breaking overseas, including six reports of consumers receiving electrical shocks.

Sold at: Online at NVIDIA.com, Amazon.com, BestBuy.com, and NewEgg.com from October 2015 through June 2017 for about $30.

Importer: NVIDIA Corp., of Santa Clara, Calif.

Manufactured in: China

Note: Health Canada’s press release is available at: http://healthycanadians.gc.ca/recall-alert-rappel-avis/search-recherche/simple/en/?f_mc=4.

This recall was conducted voluntarily by the company under CPSC’s Fast Track Recall process. Fast Track recalls are initiated by firms who commit to work with CPSC to quickly announce the recall and remedy to protect consumers.

About U.S. CPSC:
The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of injury or death associated with the use of thousands of types of consumer products under the agency’s jurisdiction.  Deaths, injuries, and property damage from consumer product incidents cost the nation more than $1 trillion annually.
CPSC is committed to protecting consumers and families from products that pose a fire, electrical, chemical or mechanical hazard. CPSC’s work to ensure the safety of consumer products – such as toys, cribs, power tools, cigarette lighters and household chemicals – contributed to a decline in the rate of deaths and injuries associated with consumer products over the past 40 years.

Federal law bars any person from selling products subject to a publicly-announced voluntary recall by a manufacturer or a mandatory recall ordered by the Commission.

For more lifesaving information, follow us on Facebook, Instagram @USCPSC and Twitter @USCPSC or sign up to receive our e-mail alerts. To report a dangerous product or a product-related injury go online to www.SaferProducts.gov or call CPSC’s Hotline at 800-638-2772 or teletypewriter at 301-595-7054 for the hearing impaired.

CPSC Consumer Information Hotline
Contact us at this toll-free number if you have questions about a recall:
800-638-2772 (TTY 301-595-7054)
Times: 8 a.m.5:30 p.m. ET; Messages can be left anytime
Call to get product safety and other agency information and to report unsafe products.

Media Contact
Please use the phone numbers below for all media requests.
Phone: 301-504-7908
Spanish: 301-504-7800

 

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SOURCE U.S. Consumer Product Safety Commission

Related Links

http://www.cpsc.gov

U.S. Army bans use of Chinese-made drones due to ‘cyber vulnerabilities’

The DJI Phantom 3 Professional drone flies at the at the 2016 International CES, a trade show of consumer electronics, in Las Vegas, Nevada, January 7, 2016. A U.S. Army memo ordered that personnel cease use of DJI products due to “increased awareness of cyber vulnerabilities” in the products.Photo by Molly Riley/UPI

Aug. 5 (UPI) — The U.S. Army banned use of a Chinese-made DJI drones and other equipment after identifying “operational risks.”

A U.S. Army memo, obtained by sUAS News and published online, ordered Army personnel to cease all use of Dajiang Innovation products, uninstall all DJI applications, remove all batteries/storage media from devices, and secure equipment for follow on direction.

“Due to increased awareness of cyber vulnerabilities associated with DJI products, it is directed that the U.S. Army halt use of all DJI products,” the memo stated. “This guidance applies to all DJI UAS and any system that employs DJI electrical components or software including, but not limited to, flight computers, cameras, radios, batteries, speed controllers, GPS units, handheld control stations, or devices with DJI software applications installed.”

The memo stated that DJI Unmanned Aircraft Systems are the “most widely used non-program of record commercial off-the-shelf UAS” used by the Army.

“There are U.S. special operators in Syria using DJI products,” former Army intelligence soldier Brett Velicovich told Defense One. “So I get it. I’m glad [the Army is] finally doing something about this.”

A spokesman for DJI said the company was willing to work with the U.S. military and other organizations to assess the security issues.

“We are surprised and disappointed to read reports of the U.S. Army’s unprompted restriction on DJI drones as we were not consulted during their decision. We are happy to work directly with any organization, including the U.S. Army, that has concerns about our management of cyber issues,” he said. “We’ll be reaching out to the U.S. Army to confirm the memo and to understand what is specifically meant by ‘cyber vulnerabilities.’”

A U.S. Army spokesperson confirmed the ban had been requested, but said it was still under review.

“We can confirm that guidance was issued; however, we are currently reviewing the guidance and cannot comment further at this time,” the spokesperson said.