Nvidia Stock ( NASDAQ:NVDA )
Following news that the United States will impose more limitations on shipments of high-powered chips to China, Nvidia stock was up 4.9% as of 12:29 p.m. ET on Tuesday. The United States has recently restricted the export of chips used in AI systems.
Bond rates fell, making growth companies more appealing to market players, and technology stocks generally had a solid day. It was good news after Nvidia stock had dropped 55% this year, but the business still has work to do in the PC market.
What’s the Reason?
Consumers are cutting back as prices and interest rates rise. According to the International Data Corporation, computer shipments are predicted to fall by 13% in 2022 and even more by 2023. Nevertheless, demand in 2022 is still more significant than pre-pandemic levels.
Last quarter, Nvidia ( NASDAQ:NVDA ) saw a 19% decline in sales. Revenue for Nvidia stock is being hampered by PC makers and retail partners being very cautious with their stock levels. With graphics card costs plummeting in recent months, even the red-hot gaming market has seen a fall in income.
What Should We Do Now?
Nvidia ( NASDAQ:NVDA ) has enough cash on hand, however, to maintain its future investment strategy despite the economic slump. At the recent GTC 2022 developer conference, Nvidia stock revealed numerous products, including the new RTX 40 series gaming processors, the Nvidia DRIVE Thor self-driving vehicle computer, and the Omniverse cloud services for metaverse developers.
The PC market will not bounce back anytime soon....
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