Nvidia Still Upbeat About the Crypto Market and Anticipates Sale of Stockpiled Inventory
Taiwan-based company Nvidia, which is the biggest maker of chips for the computer graphics, is positive about the crypto market.
The market has been trading on the red until recently when it showed some bullish signs. For instance, bitcoin was above the $4,000 mark, and the coin market in total added $6 billion just overnight.
Nvidia Anticipating The Stockpiled Inventory Sale
The activities from a few days ago in the coin market have led to several individuals being optimistic about the bull. Like many others, Nvidia Company has not been left behind as they expect the crypto-wither passing and giving way to a crypto-spring.
With that positivity, the chip makers are more than confident that the accumulated stockpiled inventory, especially from last year when the company experienced its worst performance, will be offloaded once the bull run takes center stage.
Despite the prediction, the company stuck to a flat revenue projection for the fiscal year 2020 as compared to a 4% decrease that the market analysts predicted. According to the company's Chief Financial Officer, Colette Kress, they expected to off-load the unsold inventory.
Moreover, Jensen Huang, Chief Executive Officer Nvidia was in the processes of convincing Wall Street that they soon will get a hold into consumers for the stockpiled equipment.
Thus far everything might have gone the opposite direction for Nvidia leading to the unsold stockpiled inventory. However, the graphics chips might have found a perfect central place for computing with self-driving cars, as well as AI in data centers, being the ideal ones for GPUs grabbing sales.
Besides, central to the success of the sales is the predicted bull in the market. Nevertheless, several predictions of the bull happening have been made, and it looks likely meaning Nvidia's anticipated sale of the stocked GPU mining chips might have been entirely on time.