In a not-too-surprising turn of events, computer graphics card demand is down following on the heels of the slump in crypto currency prices over the last few months.
The graphics card makers enjoyed some good times when they could readily command twice the normal price (and more) for their products during the hight of the cryptomining "boom" from the middle of 2017 to early 2018.
PC gamers felt unfairly put upon, as they were being forced to pay a premium because of the short supply of GPU hardware, which was being snapped up by miners (often multiple cards at a time).
Now the mining demand is down and supplies of video card hardware are rising again. Prices are coming down, but are still higher that before the crypto craze.
But they have only slightly cut sales prices, maintaining gross margins at around 20%, which, though lower than the previous high of 40-50%, is still twice the level of 8-10% seen in early 2017.
Personally, I also believe the sky-high prices helped slow demand a bit by making some potential customers shop the used market instead, although I doubt that would have had a great impact overall.