Nvidia (NVDA) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Tech stocks aren't in favor with investors right now, but this weakness makes it an excellent time for investors to go bargain hunting. Nvidia makes graphics processing units (GPUs) that are used to process intense calculations quickly for uses including gaming graphics, artificial intelligence (AI), and cryptocurrency mining. A decline in demand for mining equipment will hurt Nvidia's sales.
Worry is mounting over weak consumer spending, but that argument might be mistaken as far as Nvidia is concerned.