Featured News– Page 38 of 60

Nvidia share price retreated slightly last week after the giant chip manufacturer published mixed financial results. The NVDA stock pulled back to $154, which was slightly below last week’s high of $170. This price is about 42% above the lowest level in October, making it one of the best Nasdaq 100 components. Has gaming bottomed? Nvidia’s business has come under intense pressure in the past few months. For example, the ongoing crypto winter has led to a sharp decline in demand for crypto mining chips. This explains why Bitcoin mining companies like Marathon Digital and Argo Blockchain have plunged this year. Gaming, which boomed during the pandemic, has also come under fire since most people have now gone back to work. Growth of data centers and the PC market have also slowed. As a result, demand for Nvidia’s products has been relatively slow in the past few quarters. Last week’s results provided more color about the company. Data center revenue rose by just 1% to $3.83 billion while gaming revenue plunged by 23% to $1.57 billion sequentially and 51% from the same quarter in 2021. Its ProViz revenue plunged by 60% to $200 million while automotive rose by 14%. Still, some analysts believe that the gaming sector is close to bottoming. In a note, a Wedbush analyst said that gaming had now hit a bottom and that the sector will start growing as customers start upgrading the computers and gaming rigs they bought during the pandemic. The only challenge is that the upgrade cycle will not be in a synchronized manner. Meanwhile, Bank of America’s Vivek Arya pointed to the company’s focus on margins and a potential recovery in gaming and data centers. He expects that the stock will rise to $205. Susquehanna hiked its target for the stock from $180 to $185. So, is Nvidia a good buy? For a long time, Nvidia was seen as an exceptional growth machine that dominates key sectors. However, those sectors have now come under pressure and the company is no longer a growth stock. Instead, with growth slowing, the company will need a fresh catalyst in the near term. Nvidia share price forecast The 4H chart shows that the Nvidia stock price has pulled back in the past few days. It has dropped from last week’s high of $170 to about $150. This price is above the important support at $141, which was the lowest level on July 5. It has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has pointed downwards. Therefore, Nvidia share price will likely decline and retest the important support level at $141, which is about 9% below the current level. A move above the resistance level at $165 will invalidate the bearish view.

Featured

Nvidia Share Price Forecast Amid Persistent Gaming Woes

Nvidia Share Price Forecast: Brace Yourself If This Happens

NZD/USD Forecast: Bullish Engulfing Forms After NZ Jobs Data

NZD/USD Forecast: Kiwi to Retest 0.63 Ahead of FOMC – S&R

Ocado Retail Trading Statement: Another Profit Warning?

Ocado Share Price Forecast: Extremely Vulnerable

Ocado Share Price Surged: Brace for a Pullback Soon

Ocado Share Price Unraveling Could Push it to 505p

OKB Price Slowly Approaches its ATH as it Outperforms Peers

Optimism Price Prediction: OP is Set to Pump by Another 40%

Origin Protocol Price Prediction: Here’s Why OGN Went Parabolic

Palantir Stock Price Forecast 2025, 2027, 2030: Buy PLTR Shares?

Subscribe to our newsletter