By Marc Deschamps – December 1, 2021 04:56 pm EST
The Nintendo Switch Online app has received a new update on iOS and Android devices, bringing it up to version 1.14.0. Unfortunately, this one seems to be on the small side, offering just minor changes and technical fixes. It’s not the most exciting update in the world, but if it means the app will run smoother and offer a better experience for users, then it certainly seems worth it. Oddly enough, the official Nintendo website has not been updated with patch notes for 1.14.0, but they have been shared by Perfectly Nintendo and can be found below:
For those unfamiliar with how the Nintendo Switch Online app works, it’s a free download that players can pair with their Nintendo account. The app is meant as a complement to Switch games like Animal Crossing: New Horizons, Super Smash Bros. Ultimate, and Splatoon 2. The app allows players to use voice chat with compatible games, while also offering interesting stats, such as the amount of overall Turf inked in Splatoon 2. The app is hardly a necessity, and it’s possible that many Nintendo Switch Online subscribers might not even use it. However, for those that do, it’s nice to see Nintendo continuing to keep it up to date.
With 2021 nearly at an end, it will be interesting to see if there are any major additions for Nintendo Switch Online subscribers before the year draws to a close. This year saw the release of the Nintendo Switch Online Expansion Pack, and we know that more games will be released for the service in the near future. It’s possible we could see more games soon, but for now, users will just have to wait and see what comes next!
Do you use the Nintendo Switch Online app? Are there any features you’d like to see added to it? Let us know in the comments or share your thoughts directly on Twitter at @Marcdachamp to talk all things gaming!
Copyright 2021 ComicBook.com. All rights reserved.
Nvidia: Quantitatively Speaking Still Overvalued – Seeking Alpha
Justin Sullivan/Getty Images News
This is my first article about NVIDIA (NASDAQ:NVDA). I readily admit that I do not fully understand the specifics of the company and what investors see hidden in it. Therefore, at this stage, I offer a comprehensive, quantitative analysis of the company’s fundamental value.
The easiest way to get a first idea of the adequacy of the company’s current price is to look at the dynamics of its capitalization in the context of the dynamics of key results. As a rule, this allows you to identify persistent regressions.
Based on the long-term relationship between the revenue TTM absolute size and the company’s capitalization, NVIDIA’s current price is somewhat overvalued:
The same is true for the relationship based on the EPS TTM absolute size:
On the other side, over the past seven years, NVIDIA has shown a direct relationship between the rate of revenue growth and its P/S multiple. It should be noted that there is no similar qualitative relationship between EPS and earnings growth rate. In my opinion, this means that the rate of revenue growth is now a key driver of capitalization.
In the context of the last model, the company is now also overvalued. But more importantly, the expectation of a decrease in the revenue growth rate indicates a potential decrease in the P/S multiple in the coming quarters.
So, having determined that revenue is a key driver of company capitalization, we can build a general model that determines the company’s balanced price:
Under this approach, NVIDIA’s modeled capitalization is lower than the actual one within about two standard deviations. And the nearest forecast also does not justify the current price of the company.
Using elements of machine learning, I analyzed many options for comparative assessment of NVIDIA through multiples. As a result, I found only three models that allow a more or less reasonable judgment of the relative value of the company. To my surprise, all of these models are based on growth-adjusted multiples. This suggests that growth is a determining factor in the level of NVIDIA multiples.
A comparative valuation of NVIDIA through the forward P/E (next FY) to growth multiple indicates that the company is undervalued by 18%. But the quality of this model is not high enough:
Judging by the proposed multiples, I cannot make an unambiguous conclusion. The only thing that can be stated is that the company’s growth rate is a determining factor in the level of NVIDIA multiples. The slowdown should significantly reduce the level of its multiples.
When predicting NVIDIA’s revenue for the next ten years, I proceeded from the average expectations of analysts. According to consensus forecasts, in the next decade, the company’s annual revenue will exceed $160 billion.
NVIDIA’s operating margin has reached 35% in the last quarter. This is close to the historical maximum of the company. But the model is based on the assumption that the operating margin over the next 10 years will gradually decline to 30% in the terminal year. This is a standard approach based on the likely increase in competition.
Here is the calculation of the Weighted Average Cost of Capital:
Here’s the model itself:
(in high resolution)
The DCF-based target price of NVIDIA’s shares is $233, offering 12% downside. At the same time, in my opinion, I considered a relatively positive scenario for the future development of the company.
Looking at NVIDIA in the context of free cash flow, I want to draw your attention to one important indicator – the free cash flow yield. It shows how much the company generates free cash flow per dollar of its market price.
Free Cash Flow Yield = Free Cash Flow TTM / Market Capitalization
I compared this figure of NVIDIA with other technology companies and closest competitors. Alas, the company’s figure is the lowest:
The free cash flow that NVIDIA generates for every dollar of its capitalization is about 1%. This is lower than the US 10-year treasury yield. I don’t even compare with inflation. In general, this is a wake-up call for an investor.
From October to November last year, NVIDIA’s share price rose nearly 80%. During this period, two gaps were recorded. These gaps have defined strong support levels. And the first of these levels seems to have already been broken. In my opinion, before the level of the second support is reached, it is premature to talk about the completion of the correction.
I do not share the optimism of those who believe that NVIDIA is an extremely attractive investment at its current price. I won’t jump to conclusions about the company’s long-term potential just yet, but it’s highly likely that the decline will continue in the short term.
This article was written by
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Sony's PlayStation Direct initiative will let lucky users buy 'limited' PS5 stock – TechRadar
How to Watch UCLA vs. Utah in Men's College Basketball: Live Stream, TV Channel, Start Time – CalBearsMaven
UCLA is 4-0 on the road this season and won four of its last five game against Utah. The Utes will need to play their best game of the season to have a chance at beating the Bruins.
How to Watch UCLA vs. Utah in College Basketball Today:
Game Date: Jan. 20, 2022
Game Time: 11:00 p.m. ET
TV: FOX Sports 1
Live stream the UCLA vs. Utah game on fuboTV: Start with a 7-day free trial!
Utah (8-10, 1-7) lost in heartbreaking fashion against Arizona State in its last game. The Sun Devils hit a shot with 4.6 seconds remaining in the game to win 64-62.
Three players scored in double figures, but the Utes have struggled on the offensive end the entire season. They have failed to score more than 70 points in five straight games. However, Utah will get a boost when leading scorer Branden Carlson, who is sidelined with an ankle injury, returns to the lineup.
Meanwhile, UCLA (11-2, 3-1) has been nearly impossible to beat since its loss to No. 1 Gonzaga in November. The only loss the Bruins have suffered came last Thursday in overtime against Oregon. They bounced back with an 81-65 win over Oregon State last Saturday, trailing for less than a minute in the game.
Johnny Juzang leads UCLA with 17.2 points and 5.1 rebounds per game. The Bruins have been without Jaime Jaquez Jr., who is questionable for this contest.
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