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Nvidia shares are down 2.6 percent Thursday.
Moore noted that Nvidia's new RTX 2080 card performed only 3 percent better than the previous generation's 1080Ti card at 4K resolutions.
"We are surprised that the 2080 is only slightly better than the 1080ti, which has been available for over a year and is slightly less expensive," he said. "With higher clock speeds, higher core count, and 40% higher memory bandwidth, we had expected a bigger boost."