By Stephen Wright
Publication Date: 2026-05-24 06:56:00
Nvidia (NASDAQ:NVDA) has been one of the best stocks to own over the last five years. But things might be starting to change.
The company reported some very impressive earnings on Wednesday (20 May) but the stock didn’t really move. So is that a sign it’s time to sell?
Results
The results for what Nvidia calls Q1 2027 (the three months ending 26 April 2026) were very strong. Revenues jumped 85% from the previous year to $81.6bn.
That’s obviously strong. But more importantly, sales growth has been accelerating over the last few quarters – including this one.
Source: Fiscal.ai
Earnings per share were $1.87 – up 140%. It’s also worth remembering that this figure now includes stock-based compensation expenses.
Data centres – the bit associated with AI — grew 92%. And that’s divided roughly evenly between public cloud providers and AI specialists.
Looking ahead, Nvidia is expecting Q2 revenues to be 94% higher than last year. And new products like Vera Rubin are on track for Q3.
That all sounds very good. So why isn’t the stock moving?
Why hasn’t the stock moved?
Nvidia posted strong results and impressive guidance, but the stock didn’t move. Where have we seen that recently in the stock market?
The answer is software. Businesses are reporting impressive earnings, but the market – literally – isn’t buying it.
It’s not that investors don’t think results are very good. There’s been no real decline…
