Nvidia shares fell 8.5% on Thursday, posting their biggest one-day loss in a month, and the company lost $272 billion in market value in a single day.
Following the losses, the company’s market value fell to $2.94 trillion, leaving it outside the $3 trillion club, with Apple alone in the club.
The company reported a 3% drop in gross margin to 73% in Q4 and gave a weaker-than-expected quarterly gross margin outlook, which overshadowed its upbeat revenue outlook.
The company’s fourth-quarter revenue jumped 78%, and full-year revenue rose 114% to $130.5 billion.
Nvidia said it expects about $43 billion in first-quarter revenue, plus or minus 2%, versus $41.78 billion expected.
On the trade front, Trump proposed a 25% tariff on European cars and other goods. He also said tariffs on Mexico and Canada would go into effect on Tuesday.
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