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Nvidia's Q4 sales forecast falls short of highest estimates
The Straits Times
|November 22, 2024
Nvidia delivered a revenue forecast that failed to meet the highest expectations, showing that its dizzying artificial intelligencefuelled growth run has its limits.
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Fiscal fourth-quarter sales will be about US$37.5 billion (S$50.33 billion), the company said in a statement on Nov 21. Though the average analyst estimate was US$37.1 billion, according to data compiled by Bloomberg, projections ranged as high as US$41 billion.
The outlook suggests that AI excitement may be getting ahead of reality.
Nvidia investors bid up the shares nearly 200 per cent in 2024, turning it into the world's most valuable company. But the chipmaker has had trouble keeping up with demand for its products and struggled with production snags in 2024.
Shares of Nvidia fell about 5 per cent in extended trading following the announcement. They previously closed at US$145.89 in New York.
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