Where Will Nvidia Stock Be in 1 Year?
Nvidia's (NASDAQ: NVDA) stock closed at its all-time high of $333.49 nearly a year ago. However, the chipmaker's share prices were subsequently cut in half as investors fretted over its slowing growth, shrinking margins, and daunting regulatory headwinds. Nvidia remains a polarizing investment, but could this former high-growth darling finally bounce back in 2023?
Nvidia is the world's largest producer of discrete graphics processing units (GPUs) for PC gaming and data centers. Those two markets accounted for 91% of its revenue in its latest quarter. The remaining 9% came from its smaller professional visualization, automotive, and original equipment manufacturer (OEM) chip markets. Nvidia still controlled 80% of the discrete GPU market in the second quarter of 2022, according to JPR. Advanced Micro Devices (NASDAQ: AMD) held the remaining 20%.
Image source: Nvidia.
Source Fool.com
