Not surprising... when you had crypto mining to sucking up all the GPU power and every cousin and uncle in mining Ethereum in their basement... the world looks great! When crypto difficulty levels rise and the gpu's are not profitable for the small miner, this is what you get.
Ouch, cutting guidance, bad for stock, but maybe they will drop some GPU prices in an effort to boost sales? I know Im in the market for a new card!
Im really looking at that 2060... But if they see a weak market, maybe some good sales coming our way?
just posted in daily thread and thought i would drop it here too even though you all probably know this news along with 2/14 ER date and that little gap in chart that i think it might reach. NVIDIA Responds to TRC Capital’s ‘Mini-Tender’ Offer - https://finance.yahoo.com/news/nvidia-responds-trc-capital-mini-230000468.html
Im seeing a lot of articles about the 1660 lately, good price point and excellent performance for a mid range card. When I start seeing people posting about buying it, I will know its catching on.
NVIDIA used the annual GPU Technology Conference to announce slew of new products and technologies, many of which aimed at bolstering the company's position in the data center. Investors were impressed, pushing the stock up 4%. Founder and CEO Jensen Huang focused his keynote speech on the expansion of NVDIA's ecosystem for development using the company's graphics processing units (GPUs). Huang said that the number of developers using NVIDIA's tools to build applications has grown from 800,000 to 1.2 million in the last year. The company introduced new tools based on its CUDA platform for accelerating computing in data centers, saying that its artificial intelligence (AI) platform has been adopted by all major cloud providers, and that the top server providers were announcing products equipped with NVIDIA T4 GPUs.
Reported Q1 earnings today, it doesn't look like NVDA is going back to ATH any time soon. Or if they do, it's unwarranted. NVDA all-time high is 292.76, of which it lost ~60% of that in just 3 months. So share price took a steep dive. It's got to bounce some time. The last Q4 report, and today's Q1 shows a 30% decline in revenues from what they were doing last year. There was an outsize blip in revenues that lasted 3+ quarters, and now we've come down from that. Ostensibly, they beat estimates for this quarter. But compared to its own history, things are down and a long way from going back. Today's EPS is 61 cents/share. A year ago it was $1.98/share. But even more, two years ago, when revenues were only $1.9 billion (today's report was $2.2 billion) they still had 79 cents/share earnings. https://www.nasdaq.com/symbol/nvda/revenue-eps
