In addition, Nvidia is also going through a slump in its gaming market. Moreover, Nvidias earnings per share dropped considerably from $1.36 to $0.51 sequentially during the second quarter.Īdditionally, the firm is facing a decline in the demand for graphics processing units (GPU) owing to the fall of crypto mining. Its second-quarter gross profit significantly declined from $5.4 billion in Q1 to $2.9 billion in Q2. Meanwhile, its stock still trades near its 5-year averages, which is perhaps why its best to wait for a pull-back before investing in it. The company is facing considerable short-term headwinds, which are evidenced by the incredibly weak forecast for the third quarter. However, its second quarter has investors fretting over the future, with a considerable drop in the top and bottom-line growth. Tech giant Nvidia ( NASDAQ: NVDA) had been cruising up until the first quarter of this year.
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