The Week

Nvidia (NVDA) fell 5.24% this week, closing at $218.29 from $230.36 the previous Friday. The S&P 500 lost 0.8%, so NVDA underperformed by about 4.44 percentage points. The four sessions moved lower step by step: Tuesday opened at $233.11 and slid to $225.73; Wednesday dropped to $223.67; Thursday broke below $220 with an intraday low of $217.20 before closing at $218.36; Friday bounced only slightly to $218.29. The weekly range was 7.08%, and volume ran roughly 20% below the recent median.

Key Events

Two storylines stood out this week. First, domestic AI chip competition in China returned to focus as Enflame soared more than 220% on its Shanghai debut on Friday, refocusing attention on the pressure Nvidia’s China business faces from home-grown rivals. Second, Jensen Huang used the Goldman Sachs tech conference to call NVIDIA ‘the world’s first and only growth value stock’ and pushed back with a mocking tone on ‘circular financing’ concerns. The sovereign AI narrative also resurfaced through Palantir’s test of the $161 support level, with traders again linking it to the Nvidia partnership. After Friday’s close, reports said Nvidia is in talks to invest in Anthropic’s mega IPO. On the tape, core CPI came in hotter than expected and briefly lifted rate-hike odds, but tech held up relatively well, with Dell, Marvell and Qualcomm all rallying at times within the GPU/CPU complex.

Analyst Ratings

Sixty-three brokers now cover Nvidia: 48 rate it buy, 10 overweight, 2 hold, 2 have no opinion and 1 rates it sell, with none at underweight. The consensus recommendation is strong buy, with a consensus target of $327.18, about 49.88% above the current price. The target range is unusually wide, from $180 at the low end to $515 at the high end, showing real dispersion in long-term views. Within the semiconductor-makers group, Nvidia ranks first on institutional coverage and opinion breadth.

The Week Ahead

The macro calendar is front-loaded. Tuesday brings the New York Fed manufacturing index; Wednesday packs US retail sales, retail sales ex-autos, import prices, the NAHB housing market index and EIA crude inventories. After this week’s hot core CPI lifted rate-hike chatter, retail sales and manufacturing data will offer more clues on demand. On the company side, any progress on the Anthropic IPO talks and follow-through from Huang’s conference remarks are worth tracking.

In Short

This week was a low-volume pullback, with NVDA slipping from around $233 to $218 and lagging the S&P 500 by more than four points. Large-lot flow in the latest session was slightly negative. Yet the rating backdrop stays skewed to the upside, with buy and overweight forming the bulk of coverage and a consensus target nearly 50% above spot. Valuation sits around 27x earnings and 23x book. A weak tape against a still-bullish sell-side picture is the main tension left by the week; the test now is whether retail sales and other macro data shift rate expectations, and whether the Anthropic and partnership threads give the valuation end fresh support.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.