Following the close of the main trading session yesterday, Nvidia released its quarterly earnings report, exceeding analysts' expectations:

→ Earnings per share: Actual = $0.89, Expected = $0.84
→ Revenue: Actual = $39.3 billion, Expected = $38.1 billion (a 78% increase year-on-year)

It was also revealed that Nvidia’s latest AI chip family, Blackwell, generated $11 billion in sales for the quarter. This eased concerns that transitioning to the Blackwell chip series could lead to a decline in revenue.

How Nvidia (NVDA) Shares Reacted to the Earnings Report

Despite the strong earnings, Nvidia’s share price did not benefit significantly. Post-market trading saw heightened volatility, with NVDA shares fluctuating between $126 and $136 in the first few minutes after the report’s release.

As volatility subsided, NVDA stabilised around $129, slightly below Wednesday’s closing price of $131.37, reflecting a decline of approximately 1.7%.

Technical Analysis of NVDA Stock Chart

In February, NVDA’s share price continued to hold below the lower boundary of its previous upward trend channel after failing to break the psychological barrier at $150. Specifically:

→ The lower channel boundary has now acted as resistance (indicated by the arrow).
→ A downward trend channel (marked in red) is becoming increasingly apparent.

As a result, NVDA shares have not shown the ability to recover from the panic sell-off on 27 January, when Nvidia and other leading AI companies saw their stocks plummet following the success of Chinese startup DeepSeek.

NVDA Share Price Forecast

Analysts remain optimistic, possibly due to the expected increase in AI-related capital expenditure by major tech firms in 2025. Additionally, the upcoming GTC conference could serve as a bullish catalyst, likely featuring new product announcements within the Blackwell family.

According to TipRanks:
→ 33 out of 36 analysts recommend buying NVDA shares.
→ The 12-month average price target for NVDA is $177.

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