By Rich Duprey
Publication Date: 2026-04-11 13:43:00
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The S&P 500 is mixed after March inflation came in just below forecasts and uncertainty over a peaceful resolution to the Iran war. Tech stocks, though, were once again doing the heavy lifting. Right in the middle is Nvidia (NASDAQ:NVDA | NVDA Price Prediction), which just logged its eighth consecutive session of gains through Friday’s close, with the stock rising 14% over that span.
That marks its longest winning streak since November 2023, when it posted 10 straight up days, though it only rose about 12% at the time. The current run-up, then, raises the question: Is this run higher signaling Nvidia is finally turning a corner, or is it just another setup to fall back into stagnation? Let’s dig into the numbers and separate signal from noise.
What Powered the Eight-Day Run?
The immediate catalyst traces straight to the factory floor. On Friday, Taiwan Semiconductor Manufacturing (NYSE:TSM) preliminarily reported record first-quarter revenue of NT$1.13 trillion, or about $35.6 billion, up 35% from a year earlier. That beat expectations and highlighted red-hot demand for advanced AI chips. Nvidia now accounts for roughly 22% of Taiwan Semiconductor’s revenue, overtaking Apple (NASDAQ:AAPL) as its largest customer. Simply put, when the world’s biggest chip foundry signals capacity constraints on 3-nanometer and 2-nanometer processes tied to AI accelerators, the market reacts in kind.
Nvidia’s own fiscal 2026 results,…
