NVIDIA gets a big haircut

Posted on Thursday, July 03 2008 @ 16:36 CEST by Thomas De Maesschalck

Shares of NVIDIA (NVDA) are down bigtime today as the company lowered its revenue forecast for the second quarter to between $875 million and $975 million while announcing a charge against the cost of revenue of as much as $200 million because of a defect in some laptop chipsets and GPUs as well.

The increased competition from AMD and the bad economic climate is taking its toll on NVIDIA, at press time shares of NVDA were down 29.67% compared to yesterday and more than 60% since the start of the year.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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