One of the very first to recognize Google long term potential now recommends Nvidia

Louis Navellier is the founder and director of Navellier & Associates, a fund managing company with about $ 2 billion. Back in 2004, shortly after the Google's IPO he notices long-term potential of the company when the share price was below$ 200.

Now Louis Navellier recommends purchases of Nvidia (NVDA). The reason for this he discovers in stunning potential sales and earnings of the company. The company's profits grew by a very high rate as the dividend that Nvidia paid last quarter was 94 cent which nearly twice as annalists expectations for 56 cents.

Currently, the stock corrected because of concerns about negative impact from Apple, as Nvidia is one of their main suppliers. However at around $ 93.50, which is 50% Fibonacci correction level of the last upward movement we look for purchases. Technical level is also at horizontal and diagonal support.

Strong fundamentals by Nvidia, traded volume above average, expectations for earnings and sales growth and the increase of the shares with 168% for the past year make purchases pretty good choice.

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