Google is a customer NVidia Corporation (NASDAQ:NVDA) would hate to lose. However, analysts are speculating that Google's new Nexus 7 to be unveiled this year will drop NVDA's Tegra from its processor slot.

NVDA's cooperation with Google on their ASUS-manufactured Nexus 7 was a success, with reports of about a million units of the tablet PC being moved each month. Several days ago headlines were put in circulation, explaining that NVidia has lost Google as its customer for the new generation of the Nexus. Analysts with Pacific Crest Securities expressed their belief that Google will favor Qualcomm's Snapdragon SoC over the Tegra and adjusted their outlook on the GPU-pioneering company accordingly, slicing their sales expectations by over $200 million.

The reasons given for this view on things are the more competitive pricing of the Snapdragon and an effort to 'single-source the application processor and 3G/4G modem to simplify logistics'. On the bright side of things, Pacific Crest analysts upped their outlook on sales originating from NVDA's workstation product lineup.

NVDA's financial results conference call is scheduled for February 13, 2 p.m. Pacific time. After the company expose, institutional investors and analysts will be given the floor for questions.

After several wilder days of ups and downs, NVDA's price stabilized over the previous session and closed at $12.41 yesterday. The stock is currently a little almost 1% up in early trading, having gained 11 cents since the open.