Nvidia (NVDA) just clocked five straight days of losses, tanking 1.2% on Monday alone. The stock has now fallen nearly 20% this quarter. Since its all-time high on January 6, it’s plunged 27%. That’s a sharp shift for one of the biggest names in tech.
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This sudden nosedive has spooked investors who were riding high on the AI boom. It’s not just Nvidia either. Taiwan Semiconductor Manufacturing (TSM), AMD (AMD), and Arm (ARM) have all taken a hit. The mood around mega-cap tech stocks—especially the so-called “Magnificent Seven”—has turned sour fast.
Tariff Fears Hammer Tech Stocks
Part of the pain is coming from Washington. Worries about President Donald Trump’s tariff policies are shaking confidence in the market. Investors fear that another round of trade tensions could slow economic growth and drive inflation higher. That’s hitting chipmakers especially hard, since many rely heavily on global supply chains.
AI Doubts Pile onto Market Pressure
On top of that, there’s growing skepticism about whether the AI boom can actually deliver on its sky-high promises. Nvidia has been the poster child for AI-powered growth—but now investors are asking tough questions. That said, not everyone is panicking.
Oppenheimer analyst Rick Schafer is still betting on Nvidia’s future. According to Barron’s, he pointed out that production of Nvidia’s Blackwell AI chips is “progressing well.” He expects the company to ship between 30,000 and 50,000 NV72 rack systems this year. That could give Nvidia the firepower it needs to bounce back in the AI race.
Wider Markets Struggle Under Pressure
It’s not just a tech issue either. According to The Wall Street Journal, the S&P 500 and Nasdaq Composite have just had their worst quarter since 2022. Analysts are cutting their U.S. growth forecasts and bracing for stubborn inflation.
Yes, Nvidia’s drop looks ugly. But zoom out a little. The whole market’s under stress—from tariffs to inflation to AI fatigue. Nvidia’s next moves, especially with its Blackwell chips, could change the game.
Is NVDA a Buy or Hold?
Wall Street isn’t just hopeful about Nvidia—it’s practically pounding the table. The stock carries a Strong Buy consensus, with 39 analysts rating it a Buy and just three opting for Hold. Not a single Sell in sight. The average NVDA price target? $176.54, which implies a potential upside of 63%. If analysts are right, Nvidia’s rebound could still be in the early innings.