NVDA Stock Rises 1.95% as AMD Reports and Nvidia Results Near

Nvidia (NVDA) shares rose 1.95% to $208.63 on Monday afternoon, gaining $3.99 as investors looked ahead to Advanced Micro Devices' (AMD) third-quarter results on 3 November and Nvidia's fiscal third-quarter results on 17 November.

The gain recovered part of Friday's 4.22% decline to $204.64, a drop of $9.02 after Intel's PC warning weighed on chip stocks. The Philadelphia Semiconductor Index fell more than 7% on Friday. Nvidia's market capitalization stood at $5.02 trillion, near Apple's, which closed Friday at about $5.03 trillion compared with Nvidia's $4.93 trillion.

Melius Research cut its price target for Nvidia to $315 from $420 on Monday and kept its Buy rating. The $105 reduction is the latest published view on the stock in five weeks.

Chip stocks and Nvidia's recent performance

Monday's rebound was uneven across chipmakers. Qualcomm rose 2.19%, NXP gained 2.18%, KLA added 2.04% and Analog Devices rose 1.95%. Marvell fell 5.27%, Intel lost 1.95% and Arm declined 1.68%. AMD rose 0.21% ahead of its results.

Nvidia shares are down 5.03% over five days and 11.52% over one month, but remain up 10.02% in 2026 and 4.48% over six months. TradingView data showed the stock's year-to-date gain at 10.02% after the decline. Buyers from May are ahead, while those who bought in early October are down.

Analyst targets and AI-stock losses

Melius had raised its target to $420 before cutting it to $315, while retaining its Buy rating. Barron's Monday headline read, “Nvidia Stock Rebounding but Its Stock Chart Is Really Ugly.”

Morgan Stanley's Joseph Moore reiterated an Overweight rating and a $300 target in a note dated 2 October. He reinstated Nvidia as his top pick in semiconductors and called the stock cheap at about 15 times fiscal 2028 earnings. Cantor Fitzgerald reiterated Overweight with a $350 target on 1 October. Yahoo Finance dates the AI-chip drawdown from 6 October, so both targets were set before it began.

Yahoo Finance counted about $5 trillion in lost market value among 47 AI and chip stocks since 6 October. Over the same stretch, the other 625 large US stocks gained about $1.3 trillion. FinanceFeeds has also covered Nvidia's 5.3% fall on AI spending concerns and the SpaceX GPU debt deal.

Upcoming results and valuation

AMD is due to report third-quarter results on 3 November, two weeks before Nvidia's results. The market will read AMD's report as a proxy for data-center demand before Nvidia reports.

Nvidia's call is scheduled for 17 November at 5:00 pm EST and will cover the third quarter of fiscal 2027. Consensus estimates are earnings per share of $2.47 on revenue of $108.80 billion. The Nasdaq closed October at 25,437, down 2.86%, and the US midterm elections fall between the two companies' reports.

Nvidia trades at 27.01 times trailing earnings, has a beta of 1.75, and reported trailing revenue of $215.94 billion and net income of $120.07 billion.