Nvidia Feels Trade Pinch
The possible escalation of the China/US trade dispute is not good news for US companies already feeling the impact of the hostilities.
Shares of Nvidia tanked as much as 17 per cent after the company lowered its Q4 revenue guidance citing deteriorating macroeconomic conditions, particularly in China.
The drop trimmed more than $13 billion off Nvidia’s market cap. The warning adds Nvidia to a growing list of US companies facing revenue challenges in China, which include Apple.
Nvidia reported Q4 earnings to be released next month are expected to be around US$2.70 billion.