NVIDIA Ups the Ante on Gaming With GeForce GTX 1660 Ti

NVIDIA CorporationNVDA recently introduced a new gaming GPU, GeForce GTX 1660 Ti, which is expected to boost performance and power efficiency to enhance the experience of playing today's most popular games.

Modestly priced from $270 onward, the GTX 1660 is based on the 12th generation Turing architecture, and claims to deliver two times the TOPS of the Pascal architecture.

Another uniqueness of this GPU is that it is the first of its kind to run without the RT and Tensor cores present in RTX cards.

Talking about the GeForce lineup, management is also optimistic about the launch of GeForce RTX 2060 at mid-range price point of $360, which garnered positive reviews.

The GeForce GTX 1660 Ti enhances gaming experience with complex shaders, making it up to 1.5x faster than the GeForce GTX 1060 6GB version, and up to three times more powerful in performance compared to the GTX 960-class GPUs.

These features make this new GPU a great value buy for gamers seeking a cost-effective upgrade without compromising on experience.

Ups and Downs of NVIDIA's Gaming Business

NVIDIA has always generated substantial revenues from its cards because of the significantly higher functionality. However, it has been hit with a deteriorating trend in its gaming business over the last two quarters.

Demand from gamers failed to perk up rapidly to offset the tepid cryptocurrency-related losses, leading to higher-than-expected inventory level of midrange Pascal gaming cards. Consequently, the suspension of mid-range Pascal GPU shipments for stabilizing the channel-inventory levels led to gaming revenues plummeting 45% on a year-over-year basis and 46% sequentially to $954 million in the las t report ed quarter.

Lower-than-expected sales of high-end GPUs based on the company's new Turing architecture, including the GeForce RTX 2080 and 2070, also impacted NVIDIA's gaming business negatively.

Even though the company expects the gaming business to decline slightly in the fiscal 2020, it envisions more and more games to feature ray tracing and DLSS technology.

We therefore believe that the launch of the latest gaming GPUs will help NVIDIA expand its customer base and drive additional revenues.

Further, continuous ramp up of new products is helping it gain competitive advantage against the likes of Advanced Micro Devices AMD and Intel INTC and expand market share.

Zacks Rank and Stocks to Consider

NVIDIA currently carries a Zacks Rank #5 (Strong Sell).

A better-ranked stock in the broader technology sector is Symantec Corporation SYMC , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

Long-term earnings growth rate for Symantec is projected to be 7.9%.

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Symantec Corporation (SYMC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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