PC graphics chip maker Nvidia has been riding high lately with impressive revenue figures in the last several financial quarters. Now it looks like the company has hit a bit of a speed bump as it announced late on Wednesday that it will not make its previous predictions for revenue for the quarter that just ended on June 30.

Previously Nvidia predicted the quarter would generate revenues of about $1.1 billion but now that has been revised with numbers between $875 million to $950 million. Part of the reason is that Nvidia was forced to lower prices faster than expected on its high end chips to compete with new ATI chips from its main rival AMD. Nvidia will also take a one time charge of between $150 million to $200 million to deal with a hardware issue in some of its older notebook graphics chips. Nvidia's stock price is expected to take a hit later this morning when official trading begins; after-hours trading saw the stock plunge as much as 20 percent on the news.