Nvidia stock is wobbly ahead of earnings, but analysts still see up to 30% upside

Nvidia shares slipped 0.3% to $216.74 in early trading, extending recent relative underperformance. NVDA is up 17% year-to-date through Wednesday, lagging the 66% gain in the PHLX Semiconductor Index. The update is more about positioning/relative performance than a new fundamental catalyst.

Analysis

Nvidia shares slipped 0.3% to $216.74 in early trading, extending recent relative underperformance. NVDA is up 17% year-to-date through Wednesday, lagging the 66% gain in the PHLX Semiconductor Index. The update is more about positioning/relative performance than a new fundamental catalyst.