Nvidia Corp., the biggest maker of chips for computer graphics cards, gave a disappointing sales forecast for the current quarter, showing the lingering loss of demand from the collapse of cryptocurrency mining. The stock dropped more than 16 percent.
Revenue in the fiscal fourth quarter will be $2.7 billion, plus or minus 2 percent, the Santa Clara, California-based company said in a statement. That compares to the average of analysts’ estimates of $3.4 billion, according to data compiled by Bloomberg.