Tesla's Apple, AMD Hiring Scoops Could Squeeze Chipmaker Nvidia

Tesla Motors' (TSLA) poaching of key Apple (AAPL) and Advanced Micro Devices (AMD) engineers could squeeze graphics-chips partner Nvidia (NVDA), an MKM analyst wrote Monday ahead of Nvidia's April 5 analyst day. But MKM analyst Ian Ing reiterated his buy rating and 39 price target on Nvidia stock, which was up 1% in afternoon trading on the stock market today, earlier touching an eight-year high at 34.98. Nvidia and Tesla have partnered in machine-learning -- widely seen as key to autonomous driving -- for the better part of a decade. Last year, Nvidia's automotive segment grew 80% -- to 320 million in revenue. Together, the duo faces stiff autonomous-driving competition from rivals like General Motors (GM), Alphabet (GOOGL) and Apple.