Constant sellouts of Nvidia cards have become one of the big stories of the past two years. The company’s RTX 2030 series graphics cards have been a runaway success. Nvidia’s business future looks even more impressive than what’s happening now, if that’s possible. Nvidia Has a Huge, Long-Term Addressable Market With the company expected to deliver those results on May 25, time is running out to make a move. However, with markets beginning to recover from the worst of the 2022 slump, the company’s Q1 fiscal 2023 earnings could very well prove to be the catalyst investors have been waiting for. Nvidia’s impressive Q4 earnings didn’t kick off a rally for NVDA stock. The company now has a run of 13 straight quarters of exceeding market expectations for earnings. Guidance for Q1 2023 revenue was $8.10 billion, plus or minus 2%.
Earnings per share of $1.32 were well over analyst expectations and up 69% YoY. Nvidia’s Gaming, Data Center, and Professional Visualization divisions all reported record quarterly revenue. The company reported record quarterly revenue of $7.64 billion, up 53% year-over-year. Looking back to February, when Nvidia reported its Q4 fiscal 2022 earnings, it’s hard to make sense of the poor showing of NVDA stock since then. With the company expected to report earnings before the end of May, the window of opportunity to buy Nvidia shares at such a large discount is closing. The latest hurdle has been the mess of economic issues, including runaway inflation, rising interest rates and fears of recession that have hobbled the stock market in 2022.Īt this point, NVDA stock is trading in the $220 range, near its 2022 low. Then the chip shortage, which crimped availability of Nvidia’s hot GeForce RTX 30 series graphics cards. Then there was the pandemic that wreaked havoc with supply chains. These include the infamous 2018 crypto market crash that flooded the market with surplus graphics cards when crypto miners shut down their rigs. NVDA stock has richly rewarded long-term investors despite a series of very serious challenges. This is a big, established tech company with a market cap of over $500 billion that has delivered a 740% return over the past five years. Source: Konstantin Savusia / Īmong semiconductor stocks, Nvidia (NASDAQ: NVDA) is an elite performer.
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