The company had issued weaker-than-expected revenue guidance for the quarter. But even disappointing preliminary financials hadn't pushed NVDA stock down by too much. The company still remained a favorite among institutional investors. "Hedge funds are betting that Nvidia's sales will rebound after Q2. Chances are better that the sales will grow after Q1 of 2023, but investors cannot predict how soon the excess supply of Nvidia's products will be cleared," reported InvestorPlace contributor Chris Lau.