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Excess GTX 1060 stock means mid-range Turing could take six months to arrive

By midian182 · 11 replies
Nov 16, 2018
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  1. Back in June, we heard that Nvidia was sitting on an excess of Pascal-based graphics cards as it had overestimated demand from gamers and, more significantly, underestimated the declining demand from the shrinking cryptomining industry.

    Back in the days when cryptomining demand pushed graphics card prices insanely high, Nvidia was pumping out as many GTX 1060s as it could to try and satisfy gamers and miners alike. But with falling digital currency prices over the last few months making mining less profitable, demand for these cards has plummeted, leaving the company with excess stock.

    “The crypto hangover has left the industry with excess inventory — excess channel inventory. It will take one or two quarters to work through it,” said CEO Jen-Hsun Huang. “This is an unexpected near-term setback and doesn’t change the fundamental dynamics of our company. The end of Moore’s Law has cleared a way for NVIDIA accelerated computing as a great path forward.”

    One factor that might slow down the sales of the GTX 1060s is AMD. The red team just launched its competing RX 590 card, which does perform slightly better than the GTX 1060. But our tests show both Nvidia’s product and the RX 580 offer better costs per frame. Ultimately, though, competition from AMD will likely delay the sell off of excess GTX1060 stock, thereby pushing back the mid-range Turing cards’ launch date.

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    Last edited by a moderator: Nov 16, 2018
  2. Fobus

    Fobus TS Addict Posts: 104   +75

    These cards are over 2,5 years old. And they are still selling at MSRP. Everybody who's wanted it probably already has one. So is it any wonder that without any price drop, and with mining craze having ended, they are not selling as well?

    I think Nvidia is more worried about 20 series cards. More 10 series stock means shorter 20 series generation, meaning it will be harder to recoup investment. 20 series looks worse and worse by the day...
    Reehahs and ShagnWagn like this.
  3. R00sT3R

    R00sT3R TS Guru Posts: 145   +327

    Why anyone would be waiting for a $400 replacement for the 1060, is beyond me.
  4. MonsterZero

    MonsterZero TS Evangelist Posts: 546   +297

    I am happy to see nvidia stock tank right now! I hope they learn their lesson with trying to jump on the price craze by keeping card inventory low and marking up the new Turning series cards.
  5. ShagnWagn

    ShagnWagn TS Guru Posts: 662   +489

    This and the last couple years have been the worst in gaming hardware purchase history. I haven't seen any advancement/R&D as a result of the huge influx of cash into the video card industry yet. I know it can take a few years for a product to release with new the newly found/enhanced research. I would be excited to build a new rig! Although if I'm mandated to use Win10 for newer games, I won't because of a long list of issues. If I don't see any big jumps or a reduction in price, it will be several years before I build or recommend a new rig. Unfortunately, I foresee consoles making a big jump in market saturation due to PC video card prices. I would hate to see the day where I think it "makes sense" for me to get a console because of this.
    Fobus likes this.
  6. wiyosaya

    wiyosaya TS Evangelist Posts: 3,713   +2,075

    Jules Mark and TheAudience like this.
  7. Kaj Hansen

    Kaj Hansen TS Rookie

    Funny how both AMD and Nvidia have left over stock, yet both decide to introduce a "new" card in that same segment marking it up instead of introducing it at the old price and lowering the prices on the stuff they want to get rid of. They both accept they've made bad assumptions on the mining craze, yet they're both not willing to lower the prices back to where they were before it, whilst the ask/demand dynamics suggest the prices should be lower then before the mining craze instead of higher.

    The only market that is doing really well is the 2nd hand market as you can buy graphics cards there of older generations that perform exactly the same at half the price, 970 gtx go for 110-150 over here depending on version, which says to me a 1060 6gb should be max 170-200. The 1060 doesn't do anything special to deserve a premium in the current market.

    The market after the mining craze just isn't there anymore to justify current prices. The only place where decent progress has been made in the last couple of years on $/performance is 2nd hand.

    There is no reason to buy new stuff if the $/performance doesn't change. And as we now see there's also no reason to bring out new stuff if you don't want to progress on the $/performance ratio. At some point there won't be anywhere to go anymore with new products as we're seeing now with Nvidia and their ridiculous pricing on their new high end stuff.

    They could easily get rid of the older stock by introducing these new card at the price of the older model and lowering the prices on those to more realistic ones in the current market.
    Fobus and Reehahs like this.
  8. Cycloid Torus

    Cycloid Torus Stone age computing - click on the rock below.. Posts: 3,929   +1,160

    Looks to me as if 1060 has to drop further to be competitive - plus oversupply - say $180?
    Reehahs, Evernessince and ZackL04 like this.
  9. Evernessince

    Evernessince TS Evangelist Posts: 3,809   +3,199

    Agreed. AMD have made continuous improvements to the RX 580 and 570 to the point where the 580 is now above the 1060 6GB and the 570 ties the 1060 3GB.

    AMD is going to drop it's big yearly driver upgrade soon as well so Nvidia also have that to contend with.
    Jules Mark and Reehahs like this.
  10. misor

    misor TS Evangelist Posts: 1,394   +296

    If nvidia will sell gtx 1060 at~150$ equivalent, I will buy 2. otherwise, my 199$ amd rx580 with free 2 games (~99$ value) is enough.
  11. Reehahs

    Reehahs TS Guru Posts: 724   +462

    They can help by releasing 1060 X2 versions for 33% bump in price. As long as the X2 versions perform better than 1070 or like 1080 for less, they should sell like hot cakes.
  12. Lounds

    Lounds TS Addict Posts: 166   +103

    From what I heard both Nvidia and AMD still sold stock to retailers at the MSRP and it was retailers that decided to over inflate the prices.

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