Nonetheless, Gill tried to shut out the noise around Nvidia's lowered estimates and look beyond the near-term obstructions. For instance, GPUs, which are now on a fire sale, had been selling last year at two-to-three times more than the manufacturer suggested retail price. Gill did, in fact, identify the various setbacks that Nvidia is facing at the same time, which are hurting its margins. (See Nvidia Hedge Fund Trading Activity on TipRanks) Though this might have pulled back the stock's price by about 8% following the announcement, Needham analyst Rajvindra Gill noted that the stock is still about 20% above its most recent lowest price, recorded in early July. The company recently announced an update, in which it lowered its second-quarter fiscal 2023 expectations. Like its peers, Nvidia has also borne the brunt of chip shortages that have roiled the supply chain. It also produces system-on-chip units for the mobile computing and automobile industries. Nvidia ( NVDA), one of the top players in the semiconductor market, specializes in designing graphics processing units for the gaming and professional markets.
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