February 9, 2012
Shares of Nvidia Corp. (NASDAQ: NVDA) have broken above strong resistance and appear ready to climb considerably higher.
Nvidia has reinvented itself from a PC graphics company to a mobil processor company, and all the while still taking a 60% share of the OC graphics market. Nvidia has $4.50 a share in cash and a PE of only 16.8.
On Wednesday, February 8, Rambus Inc. signed a five-year licensing agreement with Nvidia Corp., settling all the patent disputes outstanding between the semiconductor technology companies.
As chart watchers though, we are most impressed by the breakout above the $16.00 level that has held prices in check since September 2011.
Nvidia has a great deal of potential upside and only one year ago was trading near $26 a share. Wednesday's breakout could be the start of a substantial advance.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Nvidia Corp.
Disclosure: I am long NVDA.