2/22/2023 0 Comments Nvda stock quote after marketThe Securities and Exchange Commission (SEC) recently fined Nvidia for failing to warn about the impact of crypto mining on its business. The price of a Bitcoin ( BTC-USD) is down from over $46,000 to under $30,000, even as mining costs rise as it approaches the theoretical limit of 21 million coins. Crypto miners use a lot of Nvidia chips, and crypto has fallen hard this year. Much of the blame goes to cryptocurrency mining. Even if the company reports solid numbers, it could warn on weakness ahead. But the expected revenue number is still 44% ahead of what it did for the same quarter last year.ĭespite this, bullish analysts are reducing their price targets on the stock. Nvidia is already reacting to slower growth, slowing hiring and blaming rising inflation.
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