![]() ![]() Nvidia announced a 17% shortfall in revenues - relative to the company's May guidance - and is now expecting to report a topline of $6.7B as opposed to $8.1B +/- $162M for FQ2'23. Companies typically submit preliminary earnings to inform the market about material changes in their operating and financial conditions, and this is exactly what happened here. ![]() Nvidia supplied preliminary results for its second fiscal quarter on Monday that showed a dramatic deceleration in the chipmaker's growth. According to consulting company Gartner, the global PC market contracted 12.6% in Q2'22 and makers of CPUs and GPUs are starting to feel the pain, including Nvidia. ![]() The first warning that the PC market is in much worse shape than expected came from Intel ( INTC) a short while ago when the company submitted a terrifying outlook for FY 2022 due to slowing PC shipments. Going forward, I expect a continual slowdown in topline growth and gross margins and, for that reason, have sold my Nvidia shares! Nvidia: FQ2'23 pre-release was a horror show While the sale of GPUs is only one part of Nvidia's business, the pre-release of second-quarter results strongly indicate that Nvidia's growth and margins have peaked. ( AMD) have both put up much better than expected results due to strong demand for processors and graphic processing units which was fueled by an unprecedented global pandemic and a simultaneous cryptocurrency mining boom. ![]() In the last two years, NVIDIA Corporation ( NASDAQ: NVDA) and Advanced Micro Devices, Inc. ![]()
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