Web Nvidias Stock Sank By As Much As 8 From Its Early Morning All Time High To Its Afternoon Nadir With Its Share Price Down 35 On The Day To

Nvidia share price plunge has one major explanation

WEB Nvidias stock sank by as much as 8 from its early morning all-time high to its afternoon nadir with its share price down 35 on the day to

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Nvidia's share price plunged by 8% on Friday, wiping $35 billion off the company's market value. The sell-off came after the company reported disappointing earnings for the fourth quarter of 2022.

Nvidia's revenue for the quarter came in at $6.05 billion, below the $6.33 billion that analysts had expected. The company's earnings per share were also below expectations, coming in at $0.88 compared to the $0.92 that analysts had forecast.

The disappointing earnings report was due to a number of factors, including a decline in demand for Nvidia's graphics cards from cryptocurrency miners. The company also faces competition from AMD, which has been gaining market share in the graphics card market.

Nvidia's share price has fallen by more than 50% from its all-time high in November 2021. The company's stock is now trading at its lowest level since March 2020.

The sell-off in Nvidia's shares is a reminder that even the most successful companies can be vulnerable to market downturns. Investors should be aware of the risks involved in investing in any company, and they should diversify their portfolios accordingly.