Friday, January 05, 2007

NVIDIA Corporation (NVDA) Stocks Down on Downgrades

Not only NVIDIA but it seems like the whole chip sector is down. AP reports
NEW YORK (AP) - Chip stocks fell hard in midday trading on Friday, spurred by a couple of downgrades and reduced financial forecasts.
On NVIDIA they write
Graphics chip maker Nvidia also took a beating after American Technology Research analyst Doug Freedman cut his rating on the stock to "Neutral" from "Buy."
I am not a financial analyst but this report does not make sense. NVIDIA is a key supplier not only to gaming hardware but to Apple Computer and other key computer manufacturers.

Granted that the stock has seen a run up in price in last several months. I will take it more as a consolidation than an outright signal to exit the investment.

I am holding on to my investment in NVIDIA for long haul.

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