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As US-based stock indices continue their trend downward due largely in part to the crisis over in Europe, Investors should consider some of the US-based technology names as an alternate approach. I understand many investors see technology as a great arena for growth prospects, and keeping that in the back of my mind, these two companies aren't for the conservative investor.

Research in Motion (RIMM) - Shares of RIMM traded down almost 8.1% toward the end of Monday's trading session, making the stock very risky at these levels. Trading in a 52-week range of $9.57/share and $33.54/share, Research in Motion has continued to trade in a negative manner over the last 5 sessions. The company, which was downgraded at Morgan Stanley, to a rating of Underweight, also reached a new intra-day 52-week low today. Morgan Stanley noted that "the only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power."

Based on those comments there are two possible outcomes for RIMM. First, the company would need to restructure itself and ultimately lay off 60% - 70% of its current workforce, creating cash that could be used toward the development of a better product. Second, RIMM needs to change its business model and approach to the smartphone marketplace.

If RIMM can succeed in accomplishing both of those things then the company would present potential investors with a great opportunity to establish a position. If the stock drops to $8.75/share or lower I would then begin to establish a small position, and any drop below $7.90/share should investors to establish a much larger position.

Nvidia Corp (NASDAQ:NVDA) - Shares of NVDA traded down almost 2.8% toward the end of Monday's trading session, making the stock a bit attractive at these levels. Trading in a 52-week range of $11.47/share and $16.90/share, Nvidia Corp. has continued to trade pretty flat over the last 5 sessions. The company, which was upgraded at Canaccord Genuity, to a rating of Buy and given a $16/share price target, was noted for their presence in the mobile market especially with their Tegra product line.

If Tegra can contribute to the company's bottom line over the next few quarters, then the stock could see a considerable pop. Analysts are expecting NVDA to earn $0.15/share on revenue of $1.01 billion dollars for the June quarter and $0.72/share on revenue of $4.20 billion dollars for the year. If they can continue to meet or exceed analysts' estimates as they have in the last four quarters, then the company could very begin to trade at the $15/share or even $15.50/share level.

Source: 2 Technology Companies I'm Considering In The Coming Days