Nvidia (NVDA) Stock is the 'Chart of the Day'
NEW YORK (TheStreet) -- Nvidia (NVDA) - Get Report stock is down by 0.16% to $30.76 in early afternoon trading on Wednesday.
Based in Santa Clara, CA, Nvidia is a visual computing company that focuses on the gaming, enterprise, high performance computing and cloud, and automotive markets.
Earlier this week, the company announced the creation of a credit-card sized module called the Jetson TX1, a machine learning device that could be used in drones and for tasks such as facial recognition.
Nvidia stock has risen 53.12% year-to-date.
TheStreet's Chris Versace and Bob Lang of Trifecta Stocks have identified Nvidia as the "Chart of the Day." Here is what Versace and Lang had to say about the company:
Markets generally have a tough time rallying around semiconductor stocks, even though they are an important technology bellwether. Not only do they represent what is really going on inside the overall technology sector, they are also often an indicator of leadership.
Yet, during the third-quarter earnings season, we have seen a very mixed bag of results, with some companies looking really good and others very poor. Nvidia falls into the former category; the company blew away expectations last week, and in the process, saw buyers piling into the stock. Following a 50% gain since late September, the stock has continued to rise despite a two-day market selloff.
- Chris Versace and Bob Lang "Chart of the Day: NVDA" originally published on 11/11/15 on Trifecta Stocks.
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Separately, TheStreet Ratings team rates NVIDIA CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
We rate NVIDIA CORP (NVDA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and increase in net income. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: NVDA
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.