Compared to the uptrends of the past few years, the stock market action in 2022 has been markedly different. Huge losses were the order of the day in virtually every segment of the market. Even previous perennial winners still showing signs of huge growth have been beaten down hard.

Example : NVIDIA (NVDA). In the company’s latest quarterly statement, for the first fiscal quarter of 2022, revenue rose 46% from a year ago and 8% sequentially to a record $8.29 billion. , while its two main breadwinners – Data Center and Gaming – also posted record revenues.

That didn’t help the stock much, as investors worried about slowing demand for its products amid a slowing economy. Namely, stocks are down 48% year-to-date.

But if you ask Ivan Feinseth, a 5-star Tigress Financial analyst, Nvidia has positioned itself for a rebound by next year. Feinseth believes that “Nvidia’s leadership position in data centers, autonomous technology and AI will continue to drive growth.”

There have also been some “breakthrough product introductions”.

Based on the new Hopper GPU architecture, the company recently announced the H100 Tensor Core GPU, which “will dramatically accelerate the development of AI software enabling better understanding of human speech and genomic research.”

And in order to provide the autonomous automotive industry with map coverage of over 300,000 miles of roads spanning North America, Europe and Asia by 2024, Nvidia also recently introduced Drive Map, a new mapping platform.

There’s also the opportunity offered by the Metaverse, as shown in an expansion of its partnership with Siemens that will connect the Siemens Xcelerator platform to Nvidia’s Omniverse 3D design offering. “The partnership creates an industrial metaverse with physics-based digital models from Siemens and real-time, physically accurate, AI-enabled simulation from NVDA,” Feinseth noted.

However, on what he calls a “revaluation valuation,” Feinseth thinks it’s time to lower his price target on Nvidia. The figure goes from $410 to $310. Nevertheless, there is still room for an increase of around 105% over one year. The analyst’s buy rating remains intact. (To see Feinseth’s track record, Click here)

The story continues

So, Feinseth remains optimistic despite the tough operating environment, much like most of the Street. The stock has a consensus strong buy rating based on 27 buys versus 4 takes. Many gains are also expected; going through the average target of $261.67, the shares are expected to appreciate about 73% over the next few months. (View Nvidia Stock Forecast on TipRanks)

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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The Content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.