As the aggressive growth stock strategist at Zacks Investment Research I am here with two more stocks for a year aggressive growth radar screen. This week we are looking at the near term selloff in chip stocks.

American Superconductor (AMSC Quick QuoteAMSC - Free Report) is a Zacks Rank #1 (Strong Buy) that has the growth divergence that I love to see with an A for Growth and an F for Value in the Zacks Style Scores. This stock soared the other year as word of a breakthrough in the space came, but it turned out to be false.

Like we do with all aggressive growth stocks, we look at the earnings history, earnings estimate revisions, growth profile and valuation before we look at the chart. In the case of AMSC, we see a solid recent beat and back to back profitable quarters.

American Superconductor (AMSC Quick QuoteAMSC - Free Report) is slated to show topline growth of 9% this year and that will accelerate to 13% in the next fiscal year.

NVIDIA (NVDA Quick QuoteNVDA - Free Report) is in the process of breaking a three day slump and some are suggesting the reason for the sell off is that this stock is not the biggest market capitalization, has had a strong run and we are seeing some end of month, end of quarter redistribution in the stock.

We look at all the normal metrics but then take a deeper look at the growth profile for NVDA. The chart at the end of the video shows how the sales continue to grow for NVDA and sales growth has been doing all the heavy lifting for the stock. We do see that operating margins have increased in a big way over the last few quarters which leads up to believe that buying the dip in this stock will work out positively for investors.