![]() Moving on, investors likely won’t be pleased to see that Nvidia's Q4 fiscal 2019 revenues are projected to fall by 7.2% to reach $2.70 billion, based on our current Zacks Consensus Estimate. The firm also made a series of other announcements at an early CES news conference. Plus, Nvidia and Huang just said on Sunday that the firm is set to release a new, lower-priced version of its newest Turing-based graphics cards, called the RTX 2060. And Nvidia launched its new Turing GPUs, which CEO Jensen Huang called his company’s “most important innovation in computer graphics in more than a decade,” in 2018 after nearly two years of anticipation. Despite its recent decline, Nvidia’s chips also help power datacenters, and the company is set to benefit from the growth of cloud computing, artificial intelligence, and machine learning. The company is still a leader in cutting-edge graphics chips that help create more life-like video games. This still marked a 50% downturn from its 52-week high of $292.76 per share and sets up what could be a solid buying opportunity for NVDA. Nvidia saw its stock price jump 6% through late-afternoon trading Monday to reach roughly $144 a share. Therefore, it seems that NVDA stock was bound to hit a correction, and it happened to coincide with the broader market downturn that hit everyone from Amazon ( AMZN Quick Quote AMZN - Free Report) to Alphabet ( GOOGL Quick Quote GOOGL - Free Report). With that said, Nvidia’s insane, roughly three-year climb would have made it extremely hard to continue to impress investors. NVDA’s revenues suffered as cryptocurrency mining-based demand for its GPUs fell for the second quarter in a row. More importantly, the chip power’s Q4 top-line outlook of $2.70 billion came in well below Wall Street’s $3.40 billion estimate. Nvidia is coming off a disappointing third quarter that saw its revenues fall short of estimates despite climbing 21%. ![]() So, is Nvidia due for a 2019 comeback after its late-year tumble on the back of slowing revenue growth? Let’s see what investors should expect from Nvidia in 2019 to find out. But shares of NVDA did surge Monday, along with AMD ( AMD Quick Quote AMD - Free Report) and Micron ( MU Quick Quote MU - Free Report). ![]() Nvidia ( NVDA Quick Quote NVDA - Free Report) stock has plummeted 46% over the last three months as part of the broader market downturn, driven by giants like Apple ( AAPL Quick Quote AAPL - Free Report).
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