Nvidia (NASDAQ: NVDA) stock has slipped 48% in 2022, and things may be about to get worse for the graphics card specialist amid a multitude of headwinds, ranging from its rich valuation to weakness in consumer spending due to surging inflation. A further drop in Nvidia's shares cannot be ruled out in the current scenario, especially considering that weak graphics card prices have the potential to wreck its gaming business. After all, gaming was Nvidia's second-largest business in the first quarter of fiscal 2023 (for the three months ended May 1), generating $3.6 billion in revenue and accounting for 43% of its top line. Read More...
Nvidia (NASDAQ: NVDA) stock has slipped 48% in 2022, and things may be about to get worse for the graphics card specialist amid a multitude of headwinds, ranging from its rich valuation to weakness in consumer spending due to surging inflation. A further drop in Nvidia’s shares cannot be ruled out in the current scenario, especially considering that weak graphics card prices have the potential to wreck its gaming business. After all, gaming was Nvidia’s second-largest business in the first quarter of fiscal 2023 (for the three months ended May 1), generating $3.6 billion in revenue and accounting for 43% of its top line.
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