The company's gaming segment should rebound after the economic slowdown, enabling gaming revenues to recover and grow again. However, Nvidia is primarily facing transitory issues that should not impact the company's long-term revenue growth and earnings potential. The chip giant is going through a challenging period and experiencing an earnings decline. However, now that the stock is down by nearly 70% from its highs, Nvidia looks much more attractive.
Remarkably, Nvidia had a market cap of around $800 billion and was trading at approximately 100 times TTM earnings and roughly 40 times TTM sales. Nvidia was one of the primary examples I used to outline how overvalued the market was in November 2021 in my " Epic Drop Is Coming " article. I was adamant about Nvidia ( NASDAQ: NVDA) being grossly overbought towards the end of the bull market last year.
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