Nvidia (NASDAQ: NVDA) and Airbnb (NASDAQ: ABNB) both fit this description. Shares of Nvidia and Airbnb are down 42% and 31%, respectively, yet both companies are thriving fundamentally. Nvidia has been knocked around recently because of the company's preliminary second-quarter earnings results.
The metaverse is supposed to be a groundbreaking concept that's going to change the way people interact with each other, connecting our virtual avatars in 3D virtual worlds from the comforts of our homes, offices, or anywhere with devices such as headsets or smartphones. Third-party estimates forecast that the metaverse could become an $800 billion market by 2028. Not surprisingly, many tech giants are in the race to make the most of this potential revenue opportunity.
Despite weakness in the consumer graphics segment, there are several secular tailwinds supporting Nvidia's growth.