(AOF) – STMicroelectronics (-1.58% to 35.22 euros) closes the march of the CAC 40 index the day after Nvidia’s presentation of disappointing prospects. In the current quarter, the specialist in processors and graphics cards is targeting average revenues of 8.1 billion dollars, plus or minus 2%. This forecast is lower than Wall Street’s projections of $8.45 billion. Russia and containment in China cut this forecast by $500 million, including $400 million for gaming and $100 million for data center products.
The American technology firm has warned that the sale of its products dedicated to games will decline by around 15% (in the teens) from one quarter to the next.
In the first quarter, which ended in early May, Nvidia saw its net profit fall 15% to $1.62 billion, or 64 cents per share. Excluding exceptional items, earnings per share came out at $1.36, or 7 cents better than the Refinitiv IBES consensus. Revenue jumped 46% to the $8.29 billion level, beating expectations: $8.1 billion.
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The Middle East ESC
Still relatively unknown compared to the Consumer Electronics Show (CES), the Gitex (Gulf Information Technology Exhibition) in Dubai has existed since 1981 and attracts around 100,000 visitors a year. Even if it wants to compete with the CES in Las Vegas, and the region is a very tech-savvy market, the Gitex remains, despite its internationalization, still a regional hub for technology. The CES makes it possible to cover the United States, North America and Europe at the same time, while the Gitex rather covers the Middle East, Africa and South Asia. In 2021 this event took place at the same time as the Universal Exhibition in Dubai. France was the second most represented country, behind Italy.