This visual computing company is receiving accolades for its $1,000 graphics card, which is flying off of shelves.
NVIDIA (NVDA)
from Nate’s Notes
After spending roughly nine months gradually working its way from $14 to $16, I am very pleased to report that NVIDIA’s stock has finally managed to punch into new multi-year high territory. And now that it has done so, history suggests we ought to be in for a very nice ride to the upside thanks, in part, to the extended amount of time the stock spent basically trading sideways prior to the breakout.
For the company’s fourth quarter, NVIDIA reported revenues of $1.1 billion and net income of $146.9 million, or $0.25 per share, as compared to revenues of $1.1 billion and net income of just under $174 million, or $0.28 per share, in the same period a year ago. NVDA is considered a strong buy under $17 and a buy under $20.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, March 7, 2014