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Nvidia the largest graphics supplier, will be cutting 40%-50% of its revenue forecast of the fourth quarter. Last week Intel also degraded their fourth quarter sales forecast for the second time in the past few weeks. Both companies are facing a decline in customer demand. With the new forecast, Nvidia will fall short $2 billion of the original target.

According to Nvidia:

Total revenue for the fourth quarter of fiscal 2009 is now expected to decline 40 percent to 50 percent sequentially as a result of further weakness in end-user demand and inventory reductions by Nvidia’s channel partners in the global PC supply chain.