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Friday, 09 July 2010 10:12

Nvidia shares still plummeting

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Nearing a 52-week low
Recent volatility in the market has affected all tech stocks, but thanks to compounding concerns and poor analyst ratings, Nvidia has seen a sharp fall over recent months.

Two months ago Nvidia was trading at $16.99, a month ago it was down to $12.10 and now it closed at $10.34. Some 18 months ago, the stock was selling at $7.95, but it recovered to $18.68 in December 2009. Before the onset of the recession, in mid-2007, the stock was trading above the $35 mark.

The recent slump in prices can be attributed to market trends, but it’s worth noting that analysts have been anything but generous when it comes to Nvidia. Several analysts have issued sell alerts on Nvidia over the past few months and although we don’t exactly agree with all of them, they appear to have taken their toll.

In fact, Nvidia appears to be on the road to recovery. It is about to introduce several new products that might boost its core business, such as new mid range and low end GF 104, GF 106 and GF 108 cards. Its mobile graphics business also seems healthy and Tegra appears to be gathering steam. The really big question is when these new products will start to make a positive effect on earnings.

On another note, should its shares continue to dive, they might eventually be used to plug BP’s gusher in the Gulf of Mexico.
Last modified on Friday, 09 July 2010 12:30
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