![]() ![]() ![]() Nvidia ( NVDA) shares rose nearly 2.5% to $224.56 in premarket trading on Tuesday. "We flag these headwinds, but argue investors could be underappreciating other supportive trends including: (1) strength in data center, pro-viz and 2H autos ramp," Arya wrote in a note to clients, adding that Hopper-based gaming products and restocking inventory could also help. Lastly, crypto customers could be hurt by declines in the price of Ethereum and the change to proof-of-stake, which does not need graphics cards. Arya postulated that European customers could curb demand due to the Russian invasion of Ukraine, while Chinese customers could be impacted by Covid-related lockdowns. Nvidia ( NASDAQ: NVDA) shares have sold off recently on concerns over slowing growth, but that appears to be overdone, investment firm Bank of America said.Īnalyst Vivek Arya, who has a buy rating and a $375 price target on Nvidia, notes that the 26% decline year-to-date, including last week's sharp drop, may stem from concerns over its gaming business. ![]() Antonio Bordunovi/iStock Editorial via Getty Images ![]()
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