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August 6, 2004 Stock Pick: NVIDIA Corporation (NVDA)

Stock Price: $9.92

NVIDIA Corporation is a market leader in designing and manufacturing graphics processing units (GPUs). Their processors are incorporated into consumer digital-media and enterprise PCs, professional workstations, military navigation systems, and video game consoles.

NVDA was hit hard in after hours trading yesterday evening after it reported earnings per share of $0.03 compared to anaylyst estimates of $0.15. Since the earnings announcement NVDA has fallen over $4.50 or over 30%.

We believe NVDA is now oversold, and the company can now focus on its new goals, and hopefully exceed them. The street has recognized the heavy competition it faces in the chip industry.

NVDA will probably bounce over $12 in the near term, but it is attractive as a long term buy for the patient investor.

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