Nvidia Corp.’s stock has had a rough year, shedding more than 40% so far in 2022 amid concerns about challenges in gaming and in China, as well as a large inventory write-down.
But Cowen & Co. analyst Matthew Ramsay says now is the time to own the chip name. He named it his “best idea” for 2023 in a Monday note to clients.
Additionally, Ramsay thinks that investors aren’t giving Nvidia enough credit for its potential to keep increasing average selling prices on the back of scaling artificial-intelligence performance. Read: Nvidia’s mixed earnings spark optimism: It’s ‘easier to suggest that the bottom for numbers is likely in’
What’s more, the gaming business had been volatile thanks to crypto-mining demand, but Ramsay sees “early signs of channel normalization” in this area, which sets a path for “a return to growth in that business — now permanently free of crypto bangs/busts.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 50 Best Albums Of 2022 (40-31)Here are 50 albums that made us feel awe, ache or adoration, selected and ranked by the contributors, public radio partners and staff of nprmusic From GloRilla 'Anyways, Life's Great...' to Hurray for the Riff Raff 'LIFE ON EARTH.'
Read more »
Donkervoort F22, 2022 Lexus GX 460 Driven, And 2022 Gulf Historic GP: Your Morning Brief | CarscoopsDonkervoort F22, 2022 Lexus GX 460 Driven, And 2022 Gulf Historic GP: Your Morning Brief | Carscoops carscoops
Read more »
Why ‘The White Lotus’ Was the Best Show of 2022When I wrote my list of the top ten TV shows for the year 2022, I hadn’t yet seen the finale of the second, Italy-set season of “The White Lotus” — no one had. Which meant that I couldn’t credibly …
Read more »