NVDA stock traded at $208.63 on Monday afternoon, up $3.99 or 1.95%, recovering part of Friday’s fall to $204.64. Market capitalization stands at $5.02 trillion, putting Nvidia back within touching distance of Apple, which closed Friday worth about $5.03 trillion against Nvidia’s $4.93 trillion.
Melius Research lowered its target to $315 from $420 on Monday while keeping its Buy rating, a cut of $105 that landed on the same day as the bounce. It is the newest published view on NVDA stock by five weeks.
NVDA Stock Took Back $3.99 of a $9.02 Friday Drop
Friday took NVDA stock down 4.22% after Intel’s PC warning hit the sector, with the Philadelphia Semiconductor Index falling more than 7%. Monday reversed part of it, though the recovery was selective rather than general.
Qualcomm gained 2.19%, NXP 2.18%, KLA 2.04% and Analog Devices 1.95%, so most large chipmakers rose. The exceptions were names carrying their own problems, with Marvell down 5.27%, Intel down 1.95% and Arm down 1.68%. AMD managed 0.21% the day before its third-quarter report.
One session does not undo the month, and the year-to-date gain of 10.02% is what the drawdown has left of 2026. Source: TradingView · Chart: FinanceFeedsNVDA stock is down 5.03% over five days and 11.52% over one month, yet still up 10.02% in 2026 and 4.48% over six months, which is where buyers and sellers part company. Anyone who bought in May is ahead. Anyone who bought in early October is not.
The Newest Target on NVDA Stock Is a $105 Cut
Melius had raised its target to $420 before reversing to $315, a cut of $105 that leaves the rating untouched. Barron’s headlined its Monday piece “Nvidia Stock Rebounding but Its Stock Chart Is Really Ugly,” which captures the split between the tape and the technicals.
Morgan Stanley’s Joseph Moore reiterated Overweight with a $300 target in a note dated 2 October, reinstating Nvidia as his top pick in semiconductors and calling the stock cheap at about 15 times fiscal 2028 earnings. Cantor Fitzgerald reiterated Overweight at $350 on 1 October.
Yahoo Finance dates the AI-chip drawdown from 6 October. Both targets were set before it started, which matters when they are quoted as current support for NVDA stock.
Investor Takeaway
Melius cut its target by $105 while keeping Buy, and the $300 and $350 targets most often quoted predate the drawdown by five weeks.
Yahoo Finance Counts $5 Trillion Gone From 47 AI and Chip Stocks
Yahoo Finance counts 47 AI and chip stocks losing about $5 trillion of market value since 6 October, while the other 625 large US stocks gained about $1.3 trillion over the same stretch.
The stock has given back 11.52% in a month while the broader market added value. Source: TradingViewIf the whole market were falling, the explanation would be rates or growth. A $5 trillion loss concentrated in 47 names against a $1.3 trillion gain everywhere else points at how the AI build-out is being financed rather than at whether the chips are selling. FinanceFeeds has tracked the same question through Nvidia’s 5.3% fall on AI spending concerns and the SpaceX GPU debt deal.
AMD Reports Tomorrow and Nvidia’s Q3 FY2027 Call Is 17 November
AMD reports third-quarter results on 3 November. Nvidia’s own call is set for 17 November at 5:00 pm EST, covering the third quarter of fiscal 2027, with consensus at $2.47 of earnings per share on revenue of $108.80 billion.
AMD’s print lands two weeks before Nvidia’s and will be read as a proxy for data-center demand, so NVDA stock carries AMD’s result before Nvidia reports anything itself. The Nasdaq closed October at 25,437 after a 2.86% drop, and US midterm elections fall between the two reports.
Nvidia trades on 27.01 times trailing earnings with a beta of 1.75, on trailing revenue of $215.94 billion and net income of $120.07 billion.
Investor Takeaway
Nvidia reports Q3 fiscal 2027 on 17 November at 5:00 pm EST, with consensus at $2.47 EPS on $108.80 billion of revenue, and AMD’s print on 3 November sets expectations first.
