NVDA is one of the few high-profile tech companies that haven't warned or lowered guidance or missed lately (they usually beat estimates easily) In fact, they raised guidance substantially for 03 just a few months ago. They're also moving successfully into new markets and their visibility/reputation within the industry continues to grow (see Wired's cover story.)
Yet, for whatever reason, analysts left and right seem to be bashing and downgrading them almost weekly, while leaving alone other tech companies that DO warn and that DO lower guidance (companies that would *kill* to be in nvda's position.)
I'm starting to wonder if these analysts are concerned that nvda's continued performance during the overall tech downtrend is making their other holdings/recommendations look bad by comparison. Bringing nvda down a notch or two through the bashing and inexplicable downgrades effectively makes these other companies appear more attractive.
"You are saying the market is wrong and you are determined and ready to fight?"
I'm saying that the market is confused, as it often is. There have been many stocks downgraded, only to rise to new highs. My guess is that NVIDIA will be one of them!
If there was something *substantive* causing NVIDIA to drop, I'd be far more concerned.
One milestone will be the next earnings announcement, which isn't far away. Fasten your seatbelt!
"Did you average down again?"
I am less worried about this equity than any other I've been involved with. Time will tell. :-)
(To put it another way, I've never seen a stock's price so far out of whack with the fundamentals or past company performance. BUY BUY BUY!!!)
'You know what I mean by "silent".'
I took your use of "silent" to indicate that NVIDIA hadn't done anything recently to reaffirm it's earnings outlook in order to reassure investors. That is incorrect, as I pointed out.
"What are we talking about? We are talking about analysts' concerns? Which part don't you understand?"
NVIDIA's statements on 6/26 and 7/11 directly addressed every issue the analysts have brought up, particularly the Xbox and i845G.
The "competitive threat" of the R300 is the biggest strawman in recent memory, particularly since it looks like NV30 will be there in time for Christmas.
"Are you a bigot?"
To paraphrase Dilbert, "I'm not a bigot, I'm just anti-stupidity."
I must say I was happy to purchase some shares today at $18.95, though. :-)
Every analyst wants to be a hero, that's how they get paid. They only heroes now are the ones that called the downturns, long ago. But the johnny come lately analysts are late to that party, but they keep on trying to downgrade hoping to gain a reputation. They keep kicking the same dead horses. NVDA has earnings, even with a warning, so that makes them highly visible.