Backtested performance is not an indicator of future actual results. Shares of NVDA have already had a disappointing run in 2022, as they have lost around 49.9% so far this year, in comparison to the wider PHLX Semiconductor Index’s 32.2% fall in the same period.ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. NVDA’s stock came under pressure due to the new export rules and lost about 6.6% in the after-hours trading session on Wednesday.
Retail investors on TipRanks also seem to be sharing a similar stance and have decreased their NVDA stock holdings by 0.6% in the last 30 days. They have sold 456,200 shares of NVDA stock in the last quarter. Similarly, financial bloggers are 82% Bullish on NVDA stock, compared to the sector average of 66%.Ĭontrary to analysts and financial bloggers, hedge funds are apprehensive about NVDA stock. According to TipRanks, NVDA has a Strong Buy consensus rating based on 23 Buys and seven Holds. NVDA’s average price prediction of $215.18 implies 42.6% upside potential.
The latest development can hammer the Data Center segment revenue in the future. It has been witnessing plunging Gaming revenues, which were partially getting offset by strong Data Center performance in the second quarter of Fiscal Year 2023. The largest chip maker by market value in the United States has already been treading through tough times. The company’s management stated that the new export rule will hurt its ability to develop H100 in time and may have to move some of its operations out of China. government will dent its sales to China by about $400 million in the third quarter of Fiscal Year 2023. government intends to keep a check on the national security risk with the new licensing requirement that may arise from the covered products being utilized in or diverted to ‘military end use’ or ‘military end user’ in China and Russia.Īlthough Nvidia doesn’t sell products in Russia, it estimates that the new requirements by the U.S. government has imposed new licensing requirements on the future export of its most advanced A100 and upcoming H100 integrated circuits to China (including Hong Kong), and Russia, effective immediately.Īccording to the filing, the U.S. In an SEC filing, the chip maker recently informed its stakeholders that the U.S. The growing rivalry between the world’s two largest economies might put about $400 million of Nvidia Corporation’s ( NASDAQ:NVDA) third-quarter sales at stake.
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