![]() Naturally, this has affected its profitability, with net incomes of $0.66B and net income margins of 9.8% reported in the latest quarter. ![]() In FQ2'23, NVDA reported revenues of $6.7B and gross margins of 45.3%, representing a minimal increase of 2.9% though a drastic decline of -20.8 percentage points YoY, respectively. NVDA's Financial Performance Was Smashed In The PC Demand Destruction Devastating, since the time of maximum pain is not even here yet, given the Fed's upcoming meeting on 20 September 2022. Intel ( INTC) and Advanced Micro Devices ( AMD) are similarly affected by the recent events, prompting an eye-watering combined loss of $149.13B in enterprise value for the three semi-companies in the past month. Combined with the multiple headwinds of its PC destruction, lowered forward guidance, and the Fed's aggressive rate hikes through 2023, the NVDA stock may, unfortunately, find itself decimated with little catalysts for short-term recovery. The new US government restrictions may cause Nvidia ( NASDAQ: NVDA) to lose another $400M in sales derived from China in FQ3'22, assuming delays in licensing approval for its accelerators and data center-related chips. Mokee81/iStock via Getty Images Investment Thesis
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