Mizuho analyst Vijay Rakesh included Gigabyte, a distributor of GPUs and a motherboard OEM, and Zhen Ding, a leading PCB supplier in coverage post-Asia tech series checks.
He believes Gigabyte could see 2Q softness in motherboards, with 2H upside from NVDA 40XX series and Hopper Launch. Near-term, he believes the GPU channel focuses on 3060/80 inventory clearing ahead of new launches, with inventories at normal levels (though GPU pricing is down >40% YTD).
