Why Nvidia Stock Slumped on Monday
For the 2023 fiscal second quarter (ended July 31) Nvidia is now expecting revenue of roughly $6.7 billion, up 3% year over year and down 19% sequentially. Gaming revenue is expected to be $2.04 billion, down 33% year over year and 44% sequentially. Nvidia cited weakening demand for its gaming processors by its channel partners and resellers, noting that the lower sales were likely the result of "macroeconomic headwinds."