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Worried About Nvidia? Buy This Tech Stock Right Now

Nvidia's (NASDAQ: NVDA) fiscal 2022 second-quarter results (for the three months ending July 31, 2022) sent shockwaves through the tech industry, as its tepid year-over-year growth, shrinking margins, and terrible outlook suggested that robust semiconductor demand may have come to an end. The 33% decline in revenue from sales of gaming graphics cards weighed heavily on Nvidia's quarterly results. The company had to contend with an oversupply of GPUs (graphics processing units) as cryptocurrency miners sold off their chips and demand from gamers weakened.