17.41 -1.70 (-8.90%)
Pre-Market: 8:49AM EST
|Bid||17.61 x 1100|
|Ask||17.61 x 2900|
|Day's Range||19.09 - 20.58|
|52 Week Range||9.04 - 34.14|
|Beta (3Y Monthly)||5.05|
|PE Ratio (TTM)||61.84|
|Earnings Date||Jan 28, 2019 - Feb 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.17|
This has slowed the pickup of NVIDIA’s next-generation Turing-based GeForce RTX GPUs, which it launched in late September. The early adopters of these GPUs started reporting performance issues in mid-October. NVIDIA’s GeForce forums and Reddit were filled with people reporting problems, which included crashes, black screens, artifacts, the blue screen of death, and the GPU’s complete failure to work.
NVIDIA (NVDA) failed to meet analysts’ expectations in the third quarter of fiscal 2019, which it reported on November 15 after the market bell. The stock fell ~17% in after-hours trading on November 15 as investors remained concerned related to the rising inventory of older gaming chips amid the end of crypto market demand. Weaker-than-expected demand for new chips released in August also added to the company’s inventory, and there was uncertainty related to the demand for NVIDIA’s chips in data centers, which further added to the inventory pile-up.
The tech-heavy Nasdaq Composite closed down more than 3 per cent while the market benchmark S&P 500 fell 1.6 per cent, in a day of almost relentless selling that carried over into Asia trading on Tuesday, where chipmakers and Apple suppliers were hit hardest. Investors pointed the finger at tensions between the US and China at a fractious Asia Pacific Economic Cooperation summit over the weekend, as well as concerns that chipmakers could get caught up in the trade war. Fresh worries about disappointing sales for Apple’s iPhone and concerns that the latest controversy at Facebook could lead to more tech industry regulation added to the nervousness.
Previously, we learned that NVIDIA’s (NVDA) CEO, Jensen Huang, expected the decline in the company’s GPU (graphics processing unit) prices in the second quarter to trigger demand from gamers who were not able to buy GPUs during the holiday season due to high prices and supply shortages. NVIDIA’s gaming revenue rose 4.8% sequentially to $1.8 billion in the second quarter of fiscal 2019, which ended in July. NVIDIA’s gaming revenue fell 2% sequentially to $1.76 billion in the third quarter of fiscal 2019, which ended in September—lower than the analysts’ estimate of $1.91 billion.
NVIDIA’s (NVDA) and Advanced Micro Devices’ (AMD) latest earnings saw setbacks as they suffered from the after-effects of the cryptocurrency boom. This stoked demand for GPUs (graphics processing unit), which helped miners mine currency at relatively low costs. This saw NVIDIA’s revenue from OEMs (original equipment manufacturer) and IP (intellectual property) rise 115% sequentially to $387 million in the first quarter of fiscal 2019, which ended in April.
SANTA CLARA, Calif., Nov. 19, 2018 -- AMD (NASDAQ: AMD) today announced that Dr. Lisa Su, president and chief executive officer, will present at the 22nd Annual Credit Suisse.
The so-called FAANG stocks were among the biggest decliners of the day. Amazon.com Inc. was off as much as 5.3 percent and Google-parent Alphabet Inc. dropped 3.9 percent. “You had a lot of tech stocks pricing in no bad news, creating a risk where anything disappointing was going to make them come down.
Meanwhile, NVIDIA discontinued some of its mid-priced chips’ shipments to retailers to combat its inventory levels. Like NVIDIA, the revenue of rival Advanced Micro Devices (AMD) is also expected to suffer from falling demand for chips from cryptocurrency miners. The high provision for inventory thus reduced NVIDIA’s gross margin 1.8 percentage points to 60.4% in the quarter.
NVIDIA (NVDA) reported weaker-than-expected revenue in the third quarter of fiscal 2019. Its revenue of $3.18 billion rose ~21% YoY (year-over-year) from $2.64 billion in the third quarter of fiscal 2018 and increased 2% sequentially from $3.12 billion in the second quarter of fiscal 2019.
Chip-maker Nvidia continued to slide Monday as the tech sector extended its decline from last week. The drop for Nvidia follows a 19 percent dip on Friday after it delivered its third-quarter 2019 earnings report.
The stock of semiconductor (SMH) company NVIDIA (NVDA) fell close to 19% on November 16. The stock closed trading at $164.43, which is 44% below its 52-week high of $292.76. NVIDIA lost over $23 billion in market value overnight. NVIDIA has now declined 22% in November 2018, 41% since October 2018, and 15% since the start of 2018. Peer semiconductor companies such as Advanced Micro Devices (AMD) and Micron (MU) fell 3.9% and 1.2%, respectively, on Friday.