Nvidia Stock

Hardware companies in the DFC Intelligence Video Game Stock Index were hammered in 2022 and Nvidia (NASDAQ: NVDA) was no exception.  Nvidia stock was down 52% from January 2022 to January 2023.  This was after a slight rally toward the end of the year.

The big growth area for Nvidia has been data centers.  In the last quarter, Nvidia’s data center revenue was up 31% over the previous year quarter while gaming revenue was down 51%.  However, going into 2023, Nvidia has some new products that could boost the overall company performance.

The high-end RTX 40 series started releasing at the end of 2022 with the high-end RTX 4090 ($1,600) and RTX 4080 ($1,200).  This week the RTX 4070 Ti launched at $800.

On the data center side, Nvidia continues to look to be a leader in providing the core power behind cloud services and the metaverse.  While AMD and Intel have looked to compete with Nvidia on the GPU side, Nvidia is now looking to compete with those companies on the CPU side.

Nvidia had announced plans to acquire CPU chip designer ARM for $40 billion.  In early 2022 that deal fell through.  However, Nvidia is continuing with the Grace CPU chip based on ARM architecture.  The new CPU is expected to launch in 2023.

Analysts are expecting modest 20 to 25% growth for Nvidia stock.  DFC Intelligence is more bullish, expecting Nvidia stock price to rise above $200 again and have a target of 45% growth for 2023. Nvidia is one of the initial stocks in the just launched DFC Intelligence Video Game Stock Portfolio.

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