Therefore, the stock could experience more pain soon.

Furthermore, there will likely be additional downward EPS and revenue revisions in the coming quarters. nearly $7 billion (previously estimated).

Moreover, Nvidia guided lower its Q3 revenues to just $5.9 billion vs. The company recently delivered lower than anticipated revenues and profitability results. Now, the stock has been doing quite a bit of deflating since the bubble popped, and there may be more downside in the coming months.Īdditionally, Nvidia is experiencing fundamental issues as its cryptocurrency and gaming businesses decline. At its 2021 highs, Nvidia was trading at around 100 times TTM non-GAAP EPS and 40 times TTM sales. In fact, Nvidia's stock price got so vertical that it was one of the most prominent signals that the tech top of 2021 was about to blow off. We saw remarkable appreciation from about $40 in 2019 to roughly $350 in 2021. Nvidia's stock got ahead of itself in recent years. Nvidia Stock - Often Gets Ahead Of Itself However, longer-term Nvidia has extraordinary growth and profitability potential, and its stock price will likely appreciate considerably as the company advances in future years. As the bear market persists, Nvidia's stock price could hit a new low.

While the company is facing near and intermediate-term problems, there are several bright spots to consider, especially longer-term. Nevertheless, I have owned Nvidia, and the stock has brought remarkable gains over the years. Instead, I just want to be clear that Nvidia is an excellent company that often has an inflated stock price. Now, I also want to disclose that this was not my first top call on Nvidia, as I used Nvidia's incredibly overvalued stock as a prime example to point out the tech top last fall. Since Nvidia's high in mid-August, the stock dropped by about $60 or roughly 30%. I posted a sell alert article on Nvidia ( NASDAQ: NASDAQ: NVDA) around the stock's recent highs.

Nvda stock projection