--- title: "What Is Going on with NVIDIA Stock on Wednesday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/292093670.md" description: "NVIDIA stock edged higher on Wednesday as dip-buyers supported large-cap tech leadership. The rally was fueled by reports that China may allow top AI firms to purchase limited H200 chips, and strategist Dan Ives reaffirmed the AI infrastructure buildout is only in its 'third inning.' Despite near-term technical pressure below short-term moving averages, analyst consensus remains bullish with a Buy rating and an average price target of $309.13 ahead of the August earnings report." datetime: "2026-07-08T15:59:24.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292093670.md) - [en](https://longbridge.com/en/news/292093670.md) - [zh-HK](https://longbridge.com/zh-HK/news/292093670.md) --- # What Is Going on with NVIDIA Stock on Wednesday? **NVIDIA Corp** (NASDAQ:NVDA) stock gained less than half a percent on Wednesday as dip-buyers lean into large-cap tech leadership, even as risk appetite remains mixed across the tape. The Nasdaq is down 0.05%, while the S&P 500 has shed 0.45% and Technology is still up 0.5%. The stock drew fresh attention after a report said China plans to allow leading AI companies to buy a limited number of H200 chips. **• NVIDIA stock is taking a breather. What’s next for NVDA stock?** ## **China May Ease Access For Top AI Firms** Chinese officials recently told **Alibaba Group Holding Limited** (NYSE:BABA), **ByteDance** and **DeepSeek** that they may soon receive permission to purchase some Nvidia H200 chips, the Information reported on Wednesday, citing people familiar with the matter. Tech strategist **Dan Ives** maintained a bullish view of AI semiconductor stocks, telling CNBC that investors still underestimate the long-term earnings power of major chipmakers such as NVIDIA. ## **Ives Sees AI Chip Demand Continuing** Ives said the AI revolution remains in its "third inning" and expects upcoming earnings to confirm continued AI monetization and demand. He also said strong memory-chip trends in Asia support the broader AI infrastructure buildout. ## **Technical Analysis** Nvidia is trading 1.8% below its 20-day SMA ($201.37) and 5.6% below its 50-day SMA ($209.39), which keeps the near-term trend under pressure even as the longer-term structure holds up above the 200-day SMA ($191.37). The 20-day SMA, which is below the 50-day SMA, reinforces that the recent rebound attempts have been losing traction. ## **Earnings & Analyst Outlook** Looking further out, the next major catalyst for the stock arrives with the Aug. 26 (estimated) earnings report. - **EPS Estimate**: $2.07 (Up from $1.04 year-over-year) - **Revenue Estimate**: $91.70 billion (Up from $46.74 billion YoY) - **Valuation**: P/E of 30.2x (Indicates premium valuation relative to peers) **Analyst Consensus & Recent Actions:** The stock carries a Buy rating with a consensus price forecast of $309.13. Recent analyst moves include: - **China Renaissance**: Initiated with Buy (Target $319 on June 5) - **Needham**: Buy (Maintains target $270 on June 2) - **DA Davidson**: Buy (Maintains target $300 on June 1) ## **Top ETF Exposure** - **Global X NASDAQ 100 Covered Call ETF** (NASDAQ:QYLD): 9.66% Weight - **Sapient Quality Select ETF** (NASDAQ:SQS): 9.95% Weight - **REX AI Equity Premium Income ETF** (NASDAQ:AIPI): 9.71% Weight **Significance:** Because Nvidia carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock. ## **Price Action** **NVDA Stock Price Activity:** Nvidia shares were up 0.076% at $196.99 at the time of publication on Wednesday, according to Benzinga Pro data. **Read Also: Micron, Broadcom Just Got 25% Cheaper — And Chip Stocks Are 'Far From Bubble Territory', UBS Says** _Photo Courtesy: Shutterstock.com_ ### Related Stocks - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [NVDB.US](https://longbridge.com/en/quote/NVDB.US.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [NVDU.US](https://longbridge.com/en/quote/NVDU.US.md) - [NVD.US](https://longbridge.com/en/quote/NVD.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [NVDG.US](https://longbridge.com/en/quote/NVDG.US.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) - [NVDS.US](https://longbridge.com/en/quote/NVDS.US.md) - [NVDO.US](https://longbridge.com/en/quote/NVDO.US.md) - [NVDW.US](https://longbridge.com/en/quote/NVDW.US.md) - [NVYY.US](https://longbridge.com/en/quote/NVYY.US.md) - [NYYY.US](https://longbridge.com/en/quote/NYYY.US.md) - [DIPS.US](https://longbridge.com/en/quote/DIPS.US.md) - [09388.HK](https://longbridge.com/en/quote/09388.HK.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [QYLD.US](https://longbridge.com/en/quote/QYLD.US.md) - [SQS.US](https://longbridge.com/en/quote/SQS.US.md) - [AIPI.US](https://longbridge.com/en/quote/AIPI.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) - [UBS.US](https://longbridge.com/en/quote/UBS.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) ## Related News & Research - [DeepSeek’s $71 Billion Boom Collides With an Awkward Nvidia Question](https://longbridge.com/en/news/293972328.md) - [Nvidia supplier Wistron launches $700 million Texas factory for AI system production](https://longbridge.com/en/news/293413420.md) - [Nancy Pelosi bought $3 million of NVIDIA in 2022!](https://longbridge.com/en/news/293815433.md) - [As Nvidia Discloses a 9.3% Stake in Nebius, Here’s How You Should Play NBIS Stock](https://longbridge.com/en/news/293504980.md) - [UnitedHealth, Ardagh Metal Packaging, Nvidia And More: CNBC’s ‘Final Trades’](https://longbridge.com/en/news/293617830.md)