Nvidia plunges after warning conditions in China lead to 'an extraordinary, unusually turbulent' quarter (NVDA)

jensen huang drive nvidia ces

  • Nvidia shares plunged in pre-market trading on Monday after lowering its guidance for the fourth quarter of fiscal year 2019.
  • The semiconductor company's CEO said declining macroeconomic conditions, particularly in China, impacted demand for Nvidia's gaming graphics processing units.
  • Watch Nvidia trade live.

Nvidia lowered its guidance for the fourth-quarter for fiscal year 2019 Monday, citing significantly weaker economic conditions in China and disappointing sales of its gaming and datacenter platforms.

The announcement sent shares plunging by nearly 15% in pre-market trading.

"Q4 was an extraordinary, unusually turbulent, and disappointing quarter," Jensen Huang, founder and CEO, said in a filing with the Securities and Exchange Commission.

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Contributer : Tech Insider https://read.bi/2CMXJSm
Nvidia plunges after warning conditions in China lead to 'an extraordinary, unusually turbulent' quarter (NVDA) Nvidia plunges after warning conditions in China lead to 'an extraordinary, unusually turbulent' quarter (NVDA) Reviewed by mimisabreena on Monday, January 28, 2019 Rating: 5

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