Nvidia Braces Itself for Rough Ride Following Lower Demand from Miners
.jpg)
From Cryptovest
Nvidia is looking bearish as the company doesn’t have any good news to share about its GPU sales during this quarter. Its most recent quarterly report and forecast suggest that the decline in demand for cryptocurrency mining is hurting the company.Read more: https://cryptovest.com/news/nvidia-braces-itself-for-rough-ride-following-lower-demand-from-miners/The chipmaker projects that by the end of Q2 2018, sales to cryptocurrency-oriented customers will dive by as much as two-thirds of the previous value of $300 million. Even keeping in mind that the company makes most of its revenue from gamers and that it earned $3.21 billion in revenue in the first quarter of this year, a loss of $200 million in potential revenue has investors watching.
Nvidia has taken a hit in its stock price and is down $5 from Thursday.
Joseph Moore, an analyst at Morgan Stanley, isn’t too worried about the drop in demand from miners, projecting Nvidia’s stock price at $273 per share. He said that the market would settle once the company pulls through the turbulence.
As a miner I like that I will be facing less competition to acquire new equipment. I'm by no means large scale. I operate a 7 gpu rig right now with eyes on filling that eighth spot. I've been waiting to see what their new cards look like first though. I'm hoping to get a consumer priced volta card to really bring up the hashrate.
Leave your thoughts in the comments below.
Follow @contentjunkie to stay up to date on more great posts like this one.
Click one of the links below to signup for a free crypto trading account
Dunia tak ada untung jika tak pernah rugi
I am surprised anyone was surprised by this. It's been well known for some time that the demand was crashing.
Yeah I've been holding off buying since last December when prices became unreasonable. The last card I ordered was stolen in the mail. I'm excited for the rumored volta cards though. They've been producing a new and faster type of ram for these cards which is promising for any mining application.
The last GPU I bought was a 1080 last July. I got it for the bargain price of MSRP at my local Best Buy that had exactly 1 in stock.
Sounds good. I hope you can get your hands on them and clean up!
Right on! Time to get another 20 GPUS!
This post has received a 11.2 % upvote from @boomerang.