Nvidia said second-quarter sales would fall well short of its forecast amid a drop in gaming revenue in recent weeks, the latest sign that the pandemic-era boom for computer chips is waning.
The Santa Clara, Calif., company expects revenue of $6.7 billion for the quarter ended July 31, some 17% below the $8.1 billion it had forecast in May, amid a 33% drop in gaming revenue to $2.04 billion.