Nvidia Corps stock broke out on Friday for its worst daydream for more than a decade. As a disappointment in…
Nvidia Corps stock broke out on Friday for its worst daydream for more than a decade. As a disappointment in the performance report, the graphics specialist cost more than $ 23 billion in market value.
shares closed almost 19% to $ 164.43 in heavy trading and is now down 15% for the year. The shares were closed at the lowest price since September 8, 2017, when they ended at $ 163.69 and the company’s market value ended the day under $ 1
00 billion at $ 99.97 billion. The company’s marketplace was worth more than its biggest rival in the graphics processing unit, Advanced Micro Devices Inc.
closed Friday with a market share of less than $ 21 billion.
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Last time, the Nvidia share had a worse percentage decline today on July 3, 2008 when stocks went out almost 31% after the chip maker offered a disappointing sales forecast. By the end of the year, more than 48 million shares had changed hands compared with the 52-week average daily volume of 12.9 million shares. In comparison, the PHLX Semiconductor Index
ended with 1.2% Friday, the S & P 500 index
SPX, + 0.22%
closed 0.2% and the tech-heavy Nasdaq Composite Index
closed 0.2%. AMD shares fell by 3.9%.
Nvidia’s results for the third quarter and fourth quarter fell very barely for Wall Street’s estimates because the company reported that it was difficult to clear the inventory of its older-generation Pascal architecture game chips after the release of its newer Turing chip. Earlier this quarter, Nvidia released its next-generation Turing chips for professionals and players.
The company blamed the inventory problem at the transition to the crypto currency mines, where miners would buy game chips and tie them to mining rigs to generate crypto curves like ether