Here's What Happened to NVIDIA During the Last Crypto Crash

Motley Fool2021-06-23

It's starting to look like the cryptocurrency bubble is bursting. As of this writing, the price of Bitcoin (CRYPTO:BTC) has dipped below $30,000, erasing its gains for the year. Bitcoin is now down ...

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Comments

Janenkea
2021-06-24
Janenkea
Please like and comment ?
Juneriq
2021-06-24
Juneriq
Plz like and comments
andrew123
2021-06-24
andrew123
2 expensive. $ not enough. Have to wait for correction now as crypto on down trend. Like n comment
investor_zer
2021-06-24
investor_zer
Crazy how crypto affects so many different good companies, but expect NVIDIA to survive with its strong management
LaelCham
2021-06-24
LaelCham
Dam son
Jetthrow
2021-06-24
Jetthrow
?

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As of this writing, the price of Bitcoin (CRYPTO:BTC) has dipped below $30,000, erasing its gains for the year. Bitcoin is now down ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/23/nvidia-stock-crypto-crash/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVDA","symbol_name":"英伟达","start_time":0,"source_url":"https://www.fool.com/investing/2021/06/23/nvidia-stock-crypto-crash/","article_id":"2145283099","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2145283099","pubTimestamp":1624452600,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"Sales fell off a cliff, and so did the stock price.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NVDA":"英伟达"},"translate_title":"以下是英伟达在上次数字货币事故中的遭遇","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":0.9},"content_text":"It's starting to look like the cryptocurrency bubble is bursting. As of this writing, the price of Bitcoin (CRYPTO:BTC) has dipped below $30,000, erasing its gains for the year. Bitcoin is now down more than 50% from its all-time high.\nOther cryptocurrencies are doing even worse. Ethereum (CRYPTO:ETH) is down nearly 60% from its high, and joke cryptocurrency Dogecoin (CRYPTO:DOGE) has crashed 75%.\nGraphics chip developer NVIDIA (NASDAQ:NVDA) has been one beneficiary of the crypto bubble. The company's graphics cards are useful for mining certain cryptocurrencies. This fact has boosted demand for graphics cards, contributing to shortages and high prices.\n\nImage source: Getty Images.\nNVIDIA sells some models specifically aimed at cryptocurrency miners, but miners are also buying plenty of standard graphics cards through the same channels used by PC gamers. This makes it difficult to tell how much of NVIDIA's gaming revenue is a side-effect of the cryptocurrency bubble. NVIDIA's gaming revenue more than doubled year-over-year to $2.76 billion in its latest quarter.\nWhat happens if crypto prices continue to crash? It wasn't pretty for NVIDIA last time around.\nFrom shortage to supply glut\nThe price of bitcoin and other cryptocurrencies soared throughout 2017 and early 2018. Miners snapped up graphics cards, leading to shortages and high prices. Sound familiar?\nNVIDIA's quarterly gaming revenue held steady at around $1.8 billion through the third quarter of fiscal 2019, which ended in October of 2018. Then it fell off a cliff as interest in cryptocurrency waned. Gaming revenue crashed below $1 billion in the fiscal fourth quarter of that year.\n\nChart by author. Data source: NVIDIA.\nThe crypto crash of 2018 led to bloated channel inventories of graphics cards, which reduced NVIDIA's sales dramatically. Gaming revenue was depressed for about three quarters before bouncing back.\n\"Crypto mining demand and its after effects have distorted the quarter-to-quarter trends in the gaming business and obscured its underlying trend line,\" NVIDIA CFO Colette Kress said during the Q4 2019 earnings call.\nKress continued: \"...with the benefit of hindsight, we shipped a higher amount of desktop gaming products relative to where end demand turned out to be.\"\nWhat's happening now is a turbocharged version of what happened in 2018. The total value of the cryptocurrency market at the peak this time around was far higher than in 2018, topping $2 trillion in April.\nActual shipments of graphics cards were up 24.4% in the first quarter on a year-over-year basis, according to Jon Peddie Research. The total value of those cards soared 370% thanks to inflated prices. Some of this demand has undoubtedly been driven by the pandemic, but a big chunk is tied to the fortunes of the cryptocurrency market.\nJust like NVIDIA's gaming revenue, NVIDIA stock was hit hard by the last crypto crash. Shares tanked in the final three months of 2018 as the extent of NVIDIA's dependence on crypto miners demand became clear.\n\nNVDA data by YCharts\nNVIDIA stock has once again surged amid a cryptocurrency boom and shortages of graphics cards. The company is now worth about $460 billion, about triple its peak value during the last cryptocurrency bubble. NVIDIA has made strides outside of gaming since then, particularly in the data center. But a big drop in revenue is possible, and perhaps likely, if crypto prices keep tumbling.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":128939399,"gmtCreate":1624497473711,"gmtModify":1703838372188,"author":{"id":"3574751332519170","authorId":"3574751332519170","name":"Janenkea","avatar":"https://static.tigerbbs.com/328bf689e0e4be71a26c7d798d76b511","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Please like and comment ?","listText":"Please like and comment ?","text":"Please like and comment ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128939399","repostId":2145283099,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121705471,"gmtCreate":1624491560293,"gmtModify":1703838066778,"author":{"id":"3566969992567848","authorId":"3566969992567848","name":"Juneriq","avatar":"https://static.tigerbbs.com/2ddc6553edddfa241ccd2e6cf2419f1f","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Plz like and comments","listText":"Plz like and comments","text":"Plz like and comments","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121705471","repostId":2145283099,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121412069,"gmtCreate":1624489073151,"gmtModify":1703837968857,"author":{"id":"3576260758860416","authorId":"3576260758860416","name":"andrew123","avatar":"https://community-static.tradeup.com/news/f3e049e64de259e717c6e652c0aca653","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0},"htmlText":"2 expensive. $ not enough. Have to wait for correction now as crypto on down trend. Like n comment","listText":"2 expensive. $ not enough. Have to wait for correction now as crypto on down trend. Like n comment","text":"2 expensive. $ not enough. Have to wait for correction now as crypto on down trend. Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121412069","repostId":2145283099,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121586867,"gmtCreate":1624476578159,"gmtModify":1703837844594,"author":{"id":"3587082672087005","authorId":"3587082672087005","name":"investor_zer","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0},"htmlText":"Crazy how crypto affects so many different good companies, but expect NVIDIA to survive with its&nbsp;strong management","listText":"Crazy how crypto affects so many different good companies, but expect NVIDIA to survive with its&nbsp;strong management","text":"Crazy how crypto affects so many different good companies, but expect NVIDIA to survive with its strong management","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121586867","repostId":2145283099,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121513151,"gmtCreate":1624473890573,"gmtModify":1703837825620,"author":{"id":"3576227913671789","authorId":"3576227913671789","name":"LaelCham","avatar":"https://static.tigerbbs.com/b3056829f8dca97c0d94677c0646a38a","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Dam son","listText":"Dam son","text":"Dam son","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121513151","repostId":2145283099,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121532738,"gmtCreate":1624473015724,"gmtModify":1703837817531,"author":{"id":"3582031308886596","authorId":"3582031308886596","name":"Jetthrow","avatar":"https://static.tigerbbs.com/89c1a764bc813368f93d48750f5521a6","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121532738","repostId":2145283099,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":147,"commentSize":41,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2145283099"}