Interest in NVIDIA Corporation’s (NASDAQ:NVDA) futuristic virtual reality headsets could climb even higher thanks to an unlikely source. An upcoming film that’s expected to be a pretty big hit will introduce the concept of escapism via VR to the masses.
CNBC has the details on what could be a promising sign for Nvidia.
Nvidia’s top salesperson in 2018 may be none other than Steven Spielberg, according to Jefferies.
Spielberg’s upcoming film, “Ready Player One,” depicts a future dystopia where many retreat into a virtual world. Jefferies said the premise could drive sales of virtual reality headsets that require high-performance chips. The movie, directed by Spielberg, will be released in U.S. theaters on March 29.
Jeffiries analyst Mark Lipacis is among those that sees the film as a huge positive for Nvidia. “We also think that ‘Ready Player One’ has the potential to appeal to an electronics game savvy audience that is motivated to have a more immersive experience,” he wrote in a note to clients.
The chipmaker’s stock has already seen eye-popping gains of nearly 150 percent during the past 12 months, and Lipacis sees the potential for share prices to climb to $300 over the next year.
NVIDIA Corporation shares rose $0.54 (+0.22%) in premarket trading Tuesday. Year-to-date, NVDA has gained 29.16%, versus a 4.37% rise in the benchmark S&P 500 index during the same period.