Nvidia Revenue Growth Strong Despite China Headwinds; New Gaming and AI Chips Promise Continued Momentum
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Nvidia's revenue growth remains strong, driven by data centers and gaming, despite trade restrictions with China.
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Chinese cloud companies are shifting some orders away from Nvidia to domestic chip suppliers. This could reduce Nvidia's China data center revenue.
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New AI chips from Amazon, Apple, Google, and Microsoft could pose competition, but demand still exceeds supply.
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Nvidia launched new gaming GPUs and expects gaming growth in 2024 based on increased consumer tech spending forecasts.
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Analyst has a buy rating on Nvidia with $666 price target based on an estimated 20x fiscal 2025 sales, reflecting ongoing growth trajectory.