Since August, shares of Nvidia (NVDA) have been beaten silly.
In fact, the stock fell from about $192 to $110. All thanks to mounting headwinds in semiconductors from a slower PC market, cut financial forecasts, and competitive issues.
However, the worst now appears to be behind it. According to Piper Sandler, the stock is about to make a comeback. “We think Nvidia is having success with its strategy to rid excess channel inventory to ensure growth in CY23,” noted the firm. “The company is also repricing existing Ampere inventory in the channel in order to help with the flush.”
The firm also believes Nvidia’s gaming business will grow sequentially, starting in April 2023.
Helping, NVDA and Oracle just announced a deeper collaboration to help customers solve business challenges with accelerated computing and AI. The collaboration aims to bring the full NVIDIA accelerated computing stack — from GPUs to systems to software — to Oracle Cloud Infrastructure (OCI).
“Accelerated computing and AI are key to tackling rising costs in every aspect of operating businesses,” said Jensen Huang, CEO, and founder, NVIDIA. “Enterprises are increasingly turning to cloud-first AI strategies that enable fast development and scalable deployment. Our partnership with Oracle will put NVIDIA AI within easy reach for thousands of companies.”
