Nvidia isn't offering guidance for the full fiscal year because a big slowdown in data-center spending is causing 'uncertainty' in the chip market

Jensen Huang, CEO of Nvidia, reacts to a video at his keynote address at CES in Las VegasNvidia shares rallied Wednesday after it posted upbeat results, but the stock slid after the company said that, like Intel, it was still wrestling with uncertainty in the data center market.

The fuzziness apparently was so bad, the company opted not to offer a full-year guidance, even as CEO Jensen Huang declared that the spending"pause" that has hit other chip-makers"will pass." "Things are worse so they're pulling the full-year guide," Bernstein Research analyst Stacy Rasgon told Business Insider."It's not complicated."with a downbeat report that also pointed to a weak data center demand. Intel CEO Bob Swan pointed to"a more cautious IT spending environment."

"I don't know if I'd call it 'bleak,' but certainly uncertain," he said. The other gains Nvidia highlighted on the call, he added, were"not enough to make up for the digestion [problem] in the rest of the business."

Glad I sold on the AH spike.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia set to report earnings after the bellNvidia shares have rebounded this year though the stock is still 45% below its record high as the company faces surplus inventory.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia stock rallies after big earnings beatNvidia Corp. shares rallied in the extended session Thursday after the graphics chip maker reported earnings that topped Wall Street estimates.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest moves after hours: Pinterest, Nvidia, Applied Materials and moreSee which stocks are posting big moves after the bell on Thursday.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia stock rally loses steam on cloudy outlook for server chips, full-year earningsNvidia Corp. shares shed big gains in the extended session Thursday after the graphics-chip maker does not provide a full-year outlook and says that...
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock rally loses steam on cloudy outlook for server chips, full-year earningsNvidia Corp. shares shed big gains in the extended session Thursday after the graphics-chip maker does not provide a full-year outlook and says that...
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock rallies after big earnings beatNvidia Corp. shares rallied in the extended session Thursday after the graphics chip maker reported earnings that topped Wall Street estimates.
Source: MarketWatch - 🏆 3. / 97 Read more »