Apple takes hit after Nvidia cuts guidance
January 28, 2019 by Steven M. Peters
From CNBC’s “Nvidia tanks 17% after chipmaker cuts guidance, citing ‘deteriorating’ economic conditions in China“:
Shares of Nvidia tanked as much as 17 percent at the market open Monday after the company lowered its revenue guidance for the fourth quarter citing “deteriorating macroeconomic conditions, particularly in China.”
The warning adds Nvidia to a growing list of U.S. companies facing revenue challenges in China. Apple issued a rare revenue warning earlier this month following slowdowns in the Chinese market, and construction machinery company Caterpillar pointed to lower demand in China in its earnings report Monday morning. A flood of tech earnings reports kicks off this week.
My take: Apple issued its own warning nearly a month ago, but be prepared for its shares to take fresh hits with each new warning as the Chinese slowdown ripples though Apple’s supply chain.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.