Nvidia predicts revenue will be disappointing in the upcoming holiday season. The reason was that sales declined due to the decline in crypto traps.
Nvidia revealed that there would be a lot of GPU stock piling up on distributors and retailers, because crypto miners no longer bought their homemade graphics cards, quoted by Reuters on Friday (11/16/2018).
Nvidia also failed to meet its sales target in the third quarter of 2018, which subsequently resulted in a decline in the value of its shares by 17 percent to US $ 168.32 per share.
Sales of Nvidia graphics cards had surged dramatically a few years ago, because of crypto euphoria, where the miners of digital currencies bought a graphics card that became the "brain" of crypto miners.
According to Nvidia's CEO, Jensen Huang, the action of buying a graphics card by the miners helped boost the price of the graphics card on the market, due to limited stock. It also makes most gamers who want to buy a graphics card discourage it.
Huang actually predicted that sales would return to normal after the miners no longer bought graphics cards, and gamers could buy graphics cards at normal prices. However, the process was not as fast as he had imagined so that there had been stockpiles, which he said would return to normal at the end of this quarter.
Nvidia revealed that there would be a lot of GPU stock piling up on distributors and retailers, because crypto miners no longer bought their homemade graphics cards, quoted by Reuters on Friday (11/16/2018).
Nvidia also failed to meet its sales target in the third quarter of 2018, which subsequently resulted in a decline in the value of its shares by 17 percent to US $ 168.32 per share.
Sales of Nvidia graphics cards had surged dramatically a few years ago, because of crypto euphoria, where the miners of digital currencies bought a graphics card that became the "brain" of crypto miners.
According to Nvidia's CEO, Jensen Huang, the action of buying a graphics card by the miners helped boost the price of the graphics card on the market, due to limited stock. It also makes most gamers who want to buy a graphics card discourage it.
Huang actually predicted that sales would return to normal after the miners no longer bought graphics cards, and gamers could buy graphics cards at normal prices. However, the process was not as fast as he had imagined so that there had been stockpiles, which he said would return to normal at the end of this quarter.
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