Over the past week, Nvidia (NVDA) stock has seen resistance at the $200 price level, fluctuating in the $190-$198 range. However, it has maintained a 5% climb in the last 30 days, with AI stocks continuing to perform well YTD. AI stocks like Nvidia, AMD, Oracle, and Super Micro Computer faced a heavy sell-off in November. The bubble is facing reality as investors are concerned about the heavy investments in the sector, yet stocks like NVDA started November on the right foot.
Nvidia continues to score new records every day, with the company topping charts globally. Nvidia is now one of the biggest companies worldwide, dominating the chip-making and GPU market at a rapid pace. With Nvidia’s earnings scheduled for next Wednesday, November 19, analysts are hoping that NVDA shares will return to $200. The company delivered Q2 FY26 revenue of $46.7B, up sharply YoY, with data center revenue growing 56% YoY. Gross margin reached 72.7% non-GAAP. This time around, Management guided Q3 revenue to $54B, a 7% climb over the previous quarter.
Furthermore, Nvidia’s dealmaking in recent months shows how it is extending its reach across the computing ecosystem. In October, Nvidia announced a deal to invest $1 billion in Nokia as they collaborate to launch the next generation of mobile telecommunications, called 6G, which will be capable of supporting AI-native wireless systems. Nvidia also announced a $5 billion investment in Intel in September as part of a new partnership. Under the collaboration, Nvidia will make use of Intel’s chip manufacturing capabilities.
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Despite a slight decline in stock performance, analysts remain optimistic about Nvidia’s growth potential, particularly in AI technology and data centers. According to TipRanks NVDA stats, the firm’s stock is targeting $350, which it may be able to achieve within the next 12 months. “The average price target for NVDA is 237.21. This is based on 39 Wall Street analysts’ 12-month price targets, issued in the past 3 months. The highest analyst price target is $350.00, and the lowest forecast is $155.00.”