Even allowing for the lousy, rotten, no-good summer for chips, Nvidia (Nasdaq:NVDA) has taken a pretty good pounding in its own right. Simply put, Wall Street just doesn't seem to buy the idea that the company's efforts to expand and diversify, beyond graphics chips, will succeed in making this anything more than an also ran. There's no shortage of risk in the Nvidia story, but investors who are willing to cast their lot with management could see some solid returns in the years to come.
A Solid Third Quarter
Although Nvidia delivered a pretty good third quarter, it is almost certainly being overshadowed by investor worries about tech going into this calendar fourth quarter. Nvidia reported that revenue rose 26% from last year, and 5% from the prior quarter. Unfortunately, Nvidia was strongest where it's weakest - growth was 14% in the consumer segment (18% of sales), 10% in professional solutions (22% of sales) and just 1% in the graphics chip business (61% of sales).
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