NVIDIA Corp. (NASDAQ: NVDA) stock price trend forecast and market analysis: 2022.12.28 From the stock chart analysis, the stock price has continued to fall recently, and has fallen below the 60-day moving average. Whether the short-term is a repeated oscillation around the 60-day moving average is more likely, but the medium-term and long-term stock price pressure is obvious, and the probability that the stock price will continue to fall to the previous low of $109 is higher. The short-term recommended buy price is above $135, the stop loss price is $135, the price target is $150, and the expected volatility range is between $135 and $150. Medium and long term holdings are not recommended. From Analysis from financial statements, Q3 2023 achieved revenue of $5.931 billion, expected $5.771 billion, YoY-17%, net income attributable to common shareholders of $680 million, expected $1.029 billion, YoY-72%, EPS $0.27, expected $0.41. Quarterly dividend of $0.04 per share. The performance of major sectors fell significantly, the performance of data centers was weak, only 1% quarter-on-quarter, and the decline in game business expanded to 51% year-on-year, and there was no bottom, and the automotive electronics and other businesses were small and had limited impact on performance. The overall downward trend of performance is obvious, far from the bottom of the cycle, do not easily copy the bottom, it is recommended to only use the technical form as a trading strategy. The long-term value of the company has not changed, but the valuation is high.
Historical Forecast Record:
2022.12.09 From the analysis of stock technical graphics, the recent stock price has walked out of the trend of continuous rebound, and is about to face the pressure level of the previous stage high of $192. If it can effectively break through, you can see the $220 line, but the probability of short-term trend is not high, it is recommended that short-term trading and medium-term trading back to $155 high sell low or hold, stop loss price of $155, can be covered according to the situation.
2022.11.16 From the technical chart, the recent stock price out of the trend of continuous rebound, but the long-term downward trend has not ended, from the K-line pattern, short-term rebound has been in place, the probability of recent fall is high, short-term trading is recommended to sell high between $100-$160, try to intervene near the lower band of the stock price range. In the long term, there is no room for holding value for the time being. The rebound is very strong, but the decline is also very strong, the volatility is large, pay attention to control the risk of the position.
Key Quote Data:
52 Week Range: 108.13-307.11
P/E Ratio(TTM): 59.71
EPS(TTM): $2.35
Market Cap: $347.38 B
Number of employees: 22473 historical data
Summary of recent financial statements
2022.11.16 Q3 2023 achieved revenue of US$5,931 million , Analyst expectations of $5,771 million, YoY-17%, net income attributable to common shareholders of US$680 million Analyst expectations of $1,029 million, YoY-72%, EPS US$0.27, expectations of US$0.41 . Quarterly dividend of $0.04 per share. Data center revenue for the third quarter of fiscal 2023 was $3.83 billion, up 31% year-over-year and 1% sequentially. Revenue for the fourth quarter of fiscal 2023 is expected to be $6.0 billion, up or minus 2%. GAAP and non-GAAP gross margins for the fourth quarter of fiscal 2023 are expected to be 63.2% and 66.0%, respectively, up or down 50 basis points, compared with analyst expectations of $6.09 billion. Third-quarter adjusted gross margin was 56.1%, compared with analyst expectations of 64.9%. $3.75 billion was returned to shareholders through share repurchases and cash dividends in the third quarter of fiscal 2023, for a total of approximately $9.29 billion in the first three quarters of the year. As of October 30, 2022, the Company’s share repurchase authorization balance was $8.28 billion as of December 2023.
Among them, game revenue was $1.57 billion, and analyst expectations of $1.32 billion, down 51% year-over-year and down 23% from the previous quarter. Data center revenue was $3.83 billion, versus analysts’ expectations of $3.79 billion, up 31% year-over-year and up 1% from the previous quarter. Professional Visualization’s third-quarter revenue was $200 million, down 65% year-over-year and down 60% from the prior quarter. Automotive and embedded third-quarter revenue was $251 million, up 86% year-over-year and up 14% from the prior quarter.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
About Nvidia Corporation
NVIDIA Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company’s invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling the creation of the metaverse. NVIDIA is now a full-stack computing company with data-center-scale offerings that are reshaping industry.