These 2 Stocks Were Among the Biggest Losers of 2022 -- Could They Be Among the Biggest Winners in 2023?
Shares of Nvidia (NASDAQ: NVDA) and Datadog (NASDAQ: DDOG) have delivered some of the worst results of 2022 for investors, plummeting 48% and 59% year to date, respectively. And these companies are far from being microcaps. Datadog and Nvidia had market capitalizations of nearly $56 billion and $753 billion, respectively, at the start of the year, making their large drops even more noteworthy.
Every business endures challenges from time to time, but great ones can overcome them and continue to win over the long haul. Here's why these two companies could push forward and become fruitful investments in 2023 and beyond.
Nvidia got crushed this year, and one cause for that was the weakness in one of its largest revenue segments: gaming. With inflation and higher interest rates tightening consumers' budgets and causing people to fear that a recession is looming, spending on personal computers (PCs) dropped notably. Considering that Nvidia is one of the top makers of the graphics processing units (GPUs) that gaming PCs rely on, that decline hit it hard. In its fiscal 2023 third quarter -- which ended Oct. 30 -- Nvidia's gaming revenue declined by 51% year over year to $1.6 billion. The gaming segment was its biggest revenue driver just three quarters ago.
Source Fool.com
