When the Bitcoin market collapsed, so too did demand for the company’s cards, leading to a sharp decline in sales.
The company was the victim of its own success, as Bitcoin speculators had spent the previous few months buying Nvidia’s high-performance gaming graphics cards to help mine the cryptocurrency. In late 2018, Nvidia shares crashed after third-quarter earnings disappointed investors and management lowered guidance below expectations for the fourth quarter. The bottom line: Should you buy Nvidia stock?
The latter category has proven to be an unforeseen boon for a company that’s growing beyond gaming and into new markets at a rapid rate.Īfter the company beat expectations with its second-quarter earnings report in August, sending its stock on yet another rally, many investors might be wondering, “Should I buy or sell Nvidia stock?” Here are some points to keep in mind: The company, known for high-performance graphics processing units, processors and semiconductors, has evolved over the last few years, branching into self-driving cars, corporate workstations and data centers. But another tech stock that makes some of the technology that works behind the scenes has been enjoying an excellent year - up about 50% - without getting the spotlight it deserves: Nvidia Corp. ( FB) have been making headlines as they push the Nasdaq to new heights.
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