Report: Nvidia hit by S&P ratings downgrade
Nvidia was hit by a Standard & Poor's ratings downgrade Wednesday, according to a Dow Jones report, adding to the graphics chipmaker's woes.
Standard & Poor's ratings services ratcheted down its outlook on Nvidia from positive to stable, according to Dow Jones. S&P cited concerns about the graphics chipmaker's sinking revenue and profitability.
The ratings agency maintains a junk-level BB- grade on the company, and S&P noted that revenues from Nvidia's recent efforts to expand into cell phones, handheld devices, and supercomputer applications is small, according to Dow Jones. Nvidia also … Read more
