Earnings: Semiconductor Message Board

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Technology Stocks : Earnings: Semiconductor

INTC 39.98

-0.4%

Oct 31 3:59 PM EDT

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To: SusieQ1065 who wrote (184)	5/10/2003 4:07:47 AM
From: 2MAR$	of 266

NVIDIA rallies post-earnings (NVDA) 16.06: Short-sellers are being blown out of the stock this morning after NVDA responds favorably to last night's upside EPS surprise. Initial reaction to the report was negative, as NVDA's revs came in light. However, as we noted yesterday in the Thomas Weisel preview of the qtr, firm predicted that top-line could miss due to production delay/yield issues at foundry Taiwan Semi. With the rev shortfall somewhat expected, investors/traders are taking the stock higher this morning. The advance is coming despite very little in the way of positive comments by analysts this morning. The general view this morning on Wall Street seems to be that the quarter was okay, but stock is still above fair value. Of course, most of the firms expressing valuation concerns have been negative on the name for some time, and maintained this negative stance as NVDA has blown through their low-teens price targets. With a short-interest of 12.5% of the float, NVDA has caught many investors leaning the wrong way into its qtr. Stock has accelerated gains in pre-market as the positions have been covered. Stock now showing a gain of 16% in pre-market.

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