Construction company Caterpillar and chipmaker Nvidia have become the latest firms to sound warnings about weakening demand in China. Caterpillar revised down its guidance, forecasting earnings per share for December of 12.73 – below FactSet's $around $12 estimate – and predicting the market would be flat for the year. Nvidia cited "deteriorating macroeconomic conditions" in China and said a slow uptake of its higher-end chips and new Turing architecture had led to an "extraordinary, unusually turbulent, and disappointing" Q4 2018, according to CEO Jensen Huang.
Construction company Caterpillar and chipmaker Nvidia have become the latest firms to sound warnings about weakening demand in China. Caterpillar revised down its guidance, forecasting earnings per share for December of around $12 – below FactSet's $12.73 estimate – and predicting the market would be flat for the year. Nvidia cited "deteriorating macroeconomic conditions" in China and said a slow uptake of its higher-end chips and new Turing architecture had led to an "extraordinary, unusually turbulent, and disappointing" Q4 2018, according to CEO Jensen Huang.