Nvidia shares have notched a remarkable eleven consecutive trading days of gains, a feat last achieved in 2023. This rally, delivering a surge of over 18%, propels the chipmaker into a week brimming with potential catalysts, from a major industry showcase to a freshly inked strategic partnership. The stock closed at $201.68, breaching the $200 threshold and translating to €169.48 in European trading.
The current momentum arrives amid a favorable macroeconomic shift. Falling Brent crude oil prices, now near $86 per barrel, have stoked hopes for easing inflation. This has subsequently pressured the yield on the 10-year U.S. Treasury note to approximately 4.29%. For a long-duration growth stock like Nvidia, lower interest rates are a significant tailwind, as they reduce discount rates and can justify higher valuation multiples.
Wall Street analysts are reinforcing the bullish sentiment. Over the weekend, Wall Street Zen upgraded its rating on Nvidia from “Buy” to “Strong Buy.” The mean analyst price target now stands at $273.57, implying an upside of more than 35% from current levels. DBS analyst Fang Boon Foo recently raised his target from $180 to $220, citing sustained robust demand from the data center segment. The most optimistic call comes from Melius Research analyst Ben Reitzes, who maintains a $380 target based on long-term data center growth and CEO Jensen Huang’s vision for a potential $1 trillion revenue base from the Blackwell and Rubin platforms by 2027.
The company’s presence is being felt at the NAB Show in Las Vegas, the world’s largest broadcast and media trade exhibition. Nvidia is showcasing how its RTX platform, in collaboration with partners like Adobe, AWS, Microsoft, and Google Cloud, is accelerating workflows in video editing and color correction for over 60,000 professional attendees.
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Concurrently, Nvidia has announced a strategic partnership with Marvell Technology, centered on its NVLink-Fusion platform. The deal, which includes a $2 billion investment from Nvidia into Marvell, will allow the latter to integrate its own AI chips and networking components into Nvidia’s infrastructure. This move is widely seen as an effort to establish NVLink as the de-facto standard for AI data centers, countering competing open architectures.
Despite the powerful rally, Nvidia’s technical picture presents an intriguing paradox. With a Relative Strength Index (RSI) of 40.7, the stock shows no signs of being overbought. It currently trades at about 22 times forward earnings, which market observers note is its most conservative valuation level since the start of the AI cycle. On a monthly basis, the stock is up roughly 15%. Broader sector performance underscores Nvidia’s outlier status; while chip equipment makers have gained about 24% year-to-date, semiconductor stocks as a whole have remained nearly flat.
Structural supports for the share price remain strong. Institutional investors hold approximately 65% of the stock, with several asset managers recently increasing their positions. Furthermore, Nvidia has an ongoing share repurchase program with a remaining volume of $58.5 billion, which reduces market supply.
All eyes are now fixed on May 20, when Nvidia will report earnings for the first quarter of its fiscal 2027 after the market closes. The company’s own revenue guidance is set at around $78 billion, with a gross margin near 75%. This would mark another record, following revenue of $68.1 billion in the prior quarter and a full-year 2026 result of $215.9 billion—a 65% annual increase. Investors will scrutinize the rollout of the Vera Rubin platform and listen for any commentary on “Agentic AI,” which could shape expectations for the next wave of enterprise infrastructure investment. Whether the eleven-day winning streak can persist until this critical earnings test will be a key market narrative in the coming weeks.
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