[ad_1]
Semiconductor manufacturer Nvidia said in a forecast that the economic situation in China also compromised its performance.
"The worsening macroeconomic conditions, particularly in China, have had an impact on consumer demand for NVIDIA gaming graphics units," the company said in a press release. "In addition, sales of some high-end GPUs using NVIDIA's new Turing architecture have been below expectations, offering a breakthrough breakthrough in performance and innovation with ray tracing and the use of new trims. IA in real time, but some customers may have delayed their purchase by waiting for lower prices. "
Chinese financial markets have struggled over the last year as Beijing's economic leaders tried to extend the country's impressive GDP trend with mixed success. The Shanghai Composite benchmark is down 27% over the last 12 months. These concerns about growth prospects have had a negative impact on high-tech companies like Nvidia.
"The fourth quarter was an extraordinary quarter, unusually hectic and disappointing," said Jensen Huang, founder and CEO of NVIDIA. "Looking forward, we are confident in our strategies and growth drivers."
Equity futures dropped to new lows after comments from Caterpillar and Nvidia.
The Apple iPhone maker – once the world's largest publicly traded company – cut its sales forecast earlier this month after CEO Tim Cook blamed the slowdown in sales of 39, iPhone in China.
Cook told CNBC that the Chinese government was not targeting Apple products, although some customers may have chosen not to buy an Apple device because it is an American company. The United States and China are at the heart of an exacerbated trade war, with each country imposing tariffs on billions of dollars worth of goods.
Apple announces its results on Tuesday, January 29th.
Caterpillar will hold a results teleconference at 11:00 am ET, at which time the company's management will detail its results and outlook for 2019. It will also answer questions from Wall Street badysts.
Source link
