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tdp2664 InvestorPlace Nvidia (NASDAQ: NVDA ), the worldwide leader in graphics and digital media processors, announced third-quarter earnings late last week. Excluding one-time items, they actually were pretty good. As a result, NVDA stock jumped 3.5% in heavy trading. While the news has traders excited, I wouldn’t get carried away here. Nvidia’s stock is bouncing off 52-week lows for a reason. NVDA shareholders might want to consider getting out on the bounce and reinvesting the proceeds in Advanced Micro Devices (NYSE: AMD ). Here’s why: A Look Ahead Nvidia’s third-quarter 2012 adjusted earnings per share were 31 cents — five cents higher than the Zacks consensus estimate. On the top line, its revenue grew 26.4% year-over-year to $1.7 billion. More relevant was the 4.9% increase from the second quarter. No doubt these results are better than expected. But when it came to providing an outlook for the fourth quarter, all Nvidia could come up with was revenues flat with the third quarter. The company was upbeat in its conference call, noting that its Tegra mobile processor for phones and tablets saw revenues increase 14% to $191 million. However, the fact that Nvidia
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