{"id":452907,"date":"2022-05-26T04:35:00","date_gmt":"2022-05-26T01:35:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/marketwatch-first-take-more-tech-companies-are-seeing-a-spring-swoon\/"},"modified":"2022-05-26T04:35:00","modified_gmt":"2022-05-26T01:35:00","slug":"marketwatch-first-take-more-tech-companies-are-seeing-a-spring-swoon","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/marketwatch-first-take-more-tech-companies-are-seeing-a-spring-swoon\/","title":{"rendered":"#MarketWatch First Take: More tech companies are seeing a spring swoon"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df9c6c9ce9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df9c6c9ce9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/marketwatch-first-take-more-tech-companies-are-seeing-a-spring-swoon\/#%E2%80%9CMarketWatch_First_Take_More_tech_companies_are_seeing_a_spring_swoon%E2%80%9D\" >&#8220;MarketWatch First Take: More tech companies are seeing a spring swoon&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/marketwatch-first-take-more-tech-companies-are-seeing-a-spring-swoon\/#Nvidia_Nutanix_and_Snowflake_are_the_latest_to_lower_their_outlooks_citing_rapidly_changing_economic_conditions\" >Nvidia, Nutanix and Snowflake are the latest to lower their outlooks, citing rapidly changing economic conditions<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/marketwatch-first-take-more-tech-companies-are-seeing-a-spring-swoon\/#Therese_Poletti\" >Therese Poletti<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMarketWatch_First_Take_More_tech_companies_are_seeing_a_spring_swoon%E2%80%9D\"><\/span>&#8220;MarketWatch First Take: More tech companies are seeing a spring swoon&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Nvidia_Nutanix_and_Snowflake_are_the_latest_to_lower_their_outlooks_citing_rapidly_changing_economic_conditions\"><\/span>\n  Nvidia, Nutanix and Snowflake are the latest to lower their outlooks, citing rapidly changing economic conditions<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000903596\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000903596\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Nvidia Corp., Nutanix Inc. and Snowflake Inc. all gave earnings forecasts that were below analysts\u2019 expectations on Wednesday, the latest in a batch of tech companies to give warnings about the changing macroeconomic conditions.<\/p>\n<p> These lowered forecasts are now coming in across most of the tech sector, from <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a>-media company Snap Inc.<br \/>\n        SNAP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205087158\/composite\" class=\"positive\">+10.71%<\/bg-quote><br \/>\n      ; chip maker Nvidia<br \/>\n        NVDA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200467500\/composite\" class=\"positive\">+5.08%<\/bg-quote><br \/>\n      ; two cloud-computing companies, Nutanix<br \/>\n        NTNX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207209171\/composite\" class=\"positive\">+2.24%<\/bg-quote><br \/>\n       and  Snowflake Inc.<br \/>\n        SNOW,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/220991541\/composite\" class=\"positive\">+2.42%<\/bg-quote><br \/>\n      ; and networking giant Cisco Systems Inc.<br \/>\n        CSCO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209509471\/composite\" class=\"positive\">+0.53%<\/bg-quote><span>.<\/span><br \/>\n        A few of them have cited the lockdowns in China that started in late March, which are affecting the global supply chain, but Snap and Snowflake cited overall macroeconomic concerns.<\/p>\n<div class=\"paywall\">\n       What most these companies have in common is that their fiscal quarters ended one month later than the standard-calendar first quarter, so these earnings reports are for the quarter that ended on April 30 or May 1, giving investors a month of new data. Snap made its comments on how the economy had \u201cdeteriorated further and faster\u201d at a JP Morgan conference and in a regulatory filing on Monday, fueling a ripple effect in a jittery market, and Snowflake said Wednesday that it believes some of its customers\u2019 consumption patterns would be adversely affected by \u201cmacroeconomic headwinds.\u201d<\/p>\n<p>On Wednesday, chip maker Nvidia said that it expects its gaming business, which was up 31% on a year-over-year basis last quarter, to be down sequentially in the teens in the current fiscal second quarter.<\/p>\n<p>\u201cIt really is about the COVID shutdowns in China,\u201d Nvidia Chief Financial Officer Collette Kress told MarketWatch. \u201dIt\u2019s so much more challenging. The only thing they are buying is food, that is the only thing they are able to buy.\u201d <\/p>\n<p>She also said the loss of business from Russia will hurt Nvidia\u2019s revenue by about $100 million in its data-center business, and the combined loss of revenue from Russia and China in gaming will be another $400 million, for a total hit of $500 million in its second quarter. <\/p>\n<p>Kress said that the company was slowing down its hiring, after hiring several thousand people last year, to help prepare for any slowing economy, but she added that the company\u2019s fundamentals \u201care still strong,\u201d and noted Nvidia\u2019s data-center business surged 80% in the quarter.  When asked if she felt the economy is heading into a recession, she said that is a tough thing to see. <\/p>\n<p>\u201cWould I have thought we would be in this situation that the entire world is facing just three months ago?\u201d she said. \u201dWe have the Ukraine war, and the newest lockdowns in China, those are not things that just effect those two regions. We have to watch those things carefully.\u201d <\/p>\n<p>At least one analyst is looking for the positives, and the fact that some tech stocks are cheap right now. <\/p>\n<p>\u201cWhile the chip sector and supply-chain malaise in China (zero-COVUD policy) remains the elephant in the room, the Street right now is laser-focused on the demand picture for consumer and enterprises, with any hint of weakness (SNAP, retailers) taking stocks down a leg lower,\u201d said Dan Ives, a Wedbush Securities analyst, in a note late Wednesday. \u201cOur view in a nutshell is that tech stocks have overcorrected and especially cloud\/cyber names are way oversold at current levels given our recent field checks.\u201d<\/p>\n<p>Amid the battered overall market, shares of most of these companies fell in after-hours trading Wednesday, with Nutanix diving over 30%, Nvidia falling nearly 7% and Snowflake tumbling almost 14%. Tech investors are getting warnings signs that the calendar second quarter is probably not going to be as good as previously expected for many companies, across multiple sectors, and they are not waiting around to see which are hit the hardest. <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Therese Poletti\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/therese-poletti\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/tpoletti\",\"text\":\"@tpoletti\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:tpoletti@marketwatch.com\",\"text\":\"tpoletti@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Therese_Poletti\"><\/span>Therese Poletti<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"192_MW\" author-name=\"Therese Poletti\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fmore-tech-companies-are-seeing-a-spring-swoon-11653528949%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7DC9-AC6596417C8E%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;MarketWatch First Take: More tech companies are seeing a spring swoon&#8221; Nvidia, Nutanix and Snowflake are the latest to lower their outlooks, citing rapidly changing economic conditions Nvidia Corp., Nutanix Inc. and Snowflake Inc. all gave earnings forecasts that were below analysts\u2019 expectations on Wednesday, the latest in a batch of tech companies to give&#8230;<\/p>\n","protected":false},"author":1,"featured_media":452908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-231865\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-452907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=452907"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/452908"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=452907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=452907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=452907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}