Nvidia, America’s most expensive semiconductor company, has gotten into a big rut. This week, the chip maker lowered its forecasts from analysts’ estimates for the third straight three months, blaming a softening economy and a sharp slowdown in demand for its gaming graphics cards.

While some investors are hoping for a quick turnaround, I’m skeptical. Nvidia NVDA faces numerous threats, including growing competition, an unsustainable pricing structure and a potential glut of used cryptocurrency cards that will be difficult to overcome.

On Wednesday, Nvidia unveiled a forecast for the October quarter that came in well below expectations, forecasting a revenue range with a midpoint of $5.9 billion, compared with the consensus forecast of $6.9 billion. The weak forecast came after Nvidia announced another miss earlier this month, saying its July quarter revenue would be $6.7 billion compared with a forecast of $8.1 billion in May.