By TradingView
Publication Date: 2026-05-18 06:52:00
Nvidia heads into its Wednesday, May 20 earnings report with the stock in the red in the latest market snapshot, even after a powerful run that took the shares to fresh record territory this month.
The setup is classic Wall Street tension as expectations are high, the AI story is still intact, and investors are asking whether the current pullback is a chance to buy or a sign that the valuation is finally getting ahead of the numbers.
In the latest finance snapshot, Nvidia stock 
NVDA was trading at $225.32, down 4.4% from the prior close.
Why is Nvidia’s stock slipping?
The near-term weakness looks more like a reset than a panic, but it still reflects real caution.
The Philadelphia semiconductor index has jumped 64% since the end of March, while Nvidia stock is up 36% from its March low.
That kind of move naturally invites profit-taking, especially when the entire AI complex has become a crowded trade.
Some investors are also questioning whether the returns from massive AI infrastructure spending will fully justify the capital being deployed.
That is why the red tape before earnings does not look random, as the market has spent months bidding up semis on the assumption that data-center buildouts will stay strong and that Nvidia will keep dominating the AI hardware stack.
The bull case still has support
That said, the bullish case has not gone away.
As per the latest analyst commentary, Bank of America raised its price target to $320 from $300 and kept Nvidia as its “top sector…
