Nvidia's quarterly forecast disappoints investors, shares drop 6%, potential $175 billion market value loss

From Investing.com: 2024-08-28 21:15:36

Nvidia’s quarterly forecast fell short of expectations, causing a 6% drop in stock and impacting other chipmakers. Despite impressive growth, future guidance didn’t match previous quarters. Sales of current-gen chips were strong, with next-gen Blackwell chip production delayed but expected to bring in billions in revenue. Nvidia’s stock, up 150% this year, could lose $175 billion in market value. Investor concerns about generative AI payoffs could impact tech giants’ spending. Regulatory scrutiny over sales and practices adds to uncertainties. Nvidia expects third-quarter revenue of $32.5 billion, beating estimates.



Read more at Investing.com: Nvidia fails to impress growth-hungry investors, shares fall By Reuters