Nvidia plunges after warning conditions in China lead to 'an extraordinary, unusually turbulent' quarter

  • Nvidia shares plunged in pre-market trading on Monday after lowering its guidance for the fourth quarter of fiscal year 2019.
  • The semiconductor company’s CEO said declining macroeconomic conditions, particularly in China, impacted demand for Nvidia’s gaming graphics processing units.
  • Watch Nvidia trade live.

Nvidia lowered its guidance for the fourth-quarter for fiscal year 2019 Monday, citing significantly weaker economic conditions in China and disappointing sales of its gaming and datacenter platforms.

The announcement sent shares plunging by nearly 15% in pre-market trading.

“Q4 was an extraordinary, unusually turbulent, and disappointing quarter,” Jensen Huang, founder and CEO, said in a filing with the Securities and Exchange Commission.

This story is developing. Please check back for updates.

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