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Benzinga
Benzinga
Business
Anusuya Lahiri

Nvidia Price Target Slashed By As Much As 33% Following Downward Revision In Outlook

Nvidia Joe Moore NVDA Nasdaq Nvidia Corp Data Center Hans Mosesmann Vijay Rakesh

On August 8, Nvidia Corp (NASDAQ: NVDA) shared preliminary second-quarter revenue of $6.70 billion versus the previous outlook of $8.10 billion. 

The revision was attributable to lower sell-in of Gaming products, reflecting a reduction in channel partner sales likely due to macroeconomic headwinds. It also implemented pricing programs with channel partners to reflect challenging market conditions likely to persist into the third quarter.

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