Nvidia: The Contrarian Opportunity Is Here In 2023


  • Revenues beat expectations, with gaming continuing to see weak demand while gross margins were weak due to inventory write-off charge from China data center products.
  • The data center segment will likely continue to see solid sequential growth as a result of new product cycle ramps and resilient customer spending in the 2023 calendar year.
  • The gaming segment is well positioned for a significant snap back as channel inventory clears and the RTX 40 series ramps up in the 2023 calendar year.
  • My 1-year target price for Nvidia is $189, representing 34% upside from current levels.

Moscow, Russia - April 7, 2019: NVIDIA microchip on the motherboard

Antonio Bordunovi

Investment thesis

Nvidia (NASDAQ:NVDA) remains to be hit particularly hard by the cyclicality of the sector. This was largely due to the weakness we saw in the gaming segment as well as slower growth in the data

Disclosure: I/we have a beneficial long position in the shares of NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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