Although desktop sales were down, sales were better than expected and there were early signs of a recovery in demand in gaming. This has been made possible by the reopening of the market in China and a new partnership with Microsoft in gaming. These results exceeded expectations after a broad slowdown in spending on computers and computer games. Nvidia's shares started the year strongly, gaining 42% to become one of the best performing companies in the Nasdaq and outperforming its peers*.
NVIDIA Corporation's 5-year performance. Source: tradingview.com
While the current technology rally appears to be losing steam, investors in Nvidia may be a lot more optimistic about the outlook for next year.
Nvidia is an American manufacturer of graphics processors and artificial intelligence-based systems. Its technologies are used in many areas, including computer games, autonomous vehicles, scientific computing, data centres and more. Nvidia has an excellent position in the GPU market, controlling approximately 80% of the market, which allows it to leverage its know-how and innovate in the field of artificial intelligence.
* Past performance is no guarantee of future results.
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