Why (And When) This Nvidia Investor Sees A Buying Opportunity Ahead
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NVIDIA Corp (NASDAQ: NVDA) shares are down more than 40% since the start of the year, and one investor sees a buying opportunity ahead if the stock falls further on earnings this week. 

NVIDIA Corp (NASDAQ:NVDA) shares are down more than 40% since the start of the year, and one investor sees a buying opportunity ahead if the stock falls further on earnings this week. 

What Happened: Requisite Capital Management's Bryn Talkington explained why a buying opportunity in Nvidia stock may be fast approaching Monday on CNBC's "Fast Money Halftime Report."

"The technicals don't look good on the stock right now going into earnings," Talkington said. 

She also noted that Nvidia preannounced earnings at the beginning of the month, and that reported showed the chip company expects revenue to come in well below its previous outlook, driven by gaming. Gaming represents close to 50% of Nvidia's revenues, Talkington noted.

"But listen, this is going to be an opportunity, if this stock sells off, to be able to buy this company," she said.

Talkington told CNBC the slowdown in gaming is temporary. All of the areas that Nvidia focuses on, including gaming, are secular growers, she added.

"If it sells off ... I'm very likely to add to the position. I think it's a wonderful company," Talkington said. 

Nvidia is set to announce its second-quarter financial results after the market closes Wednesday. The company reported preliminary second-quarter revenue of $6.7 billion at the beginning of August. Nvidia said it expects gaming revenue to be down more than 30% year-over-year.

Last quarter, Nvidia beat top-line estimates of $8.12 billion when it posted $8.28 billion in revenue for the first quarter. 

See Also: Where's Nvidia Stock Headed Next After Q2 Guidance Letdown?

NVDA Price Action: Nvidia has a 52-week high of $307.11 and a 52-week low of $140.55.

The stock was down 3.47% at $172.31 at time of publication.

Photo: courtesy of Nvidia.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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