Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
TipRanks 2022-02-24 12:02:23

Nvidia Stock: Is the Pullback an Investment Opportunity?

The recent sell-off in the market has led to a pullback in Nvidia (NASDAQ:NVDA) stock. It’s worth noting that Nvidia stock is down about 24% this year despite reporting stellar Q4 financials and providing better-than-expected guidance for the first quarter of the current fiscal year. Now What? Nvidia is well-positioned to deliver strong financials due to the ongoing strength across all its end markets, especially Data Center and Gaming. However, Kinngai Chan of Summit Redstone Partners downgraded Nvidia stock to a Hold as he sees risks in the cryptocurrency mining market. Moreover, he stated that the company's gross margins are close to peaking.

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