Key Highlights

  • NVDA shares were trading up 2.27% at $206.65 from a prior close of $202.06.
  • The Philadelphia Semiconductor index snapped a four-session losing streak.
  • NVIDIA reports Earnings on November 17.

NVIDIA (NASDAQ:NVDA) was trading up 2.27% at $206.65 in today's regular session, a gain of $4.59 from the prior close of $202.06. The stock is holding above the $200 level as chip stocks recover from a steep selloff that took the Philadelphia Semiconductor Index into a Bear Market and ended in a four-session losing streak.

What Is Driving the Chip Rebound

Cheaper oil on U.S.-Iran talks, a technology upgrade from Deutsche Bank and a constructive view from Bernstein have helped sentiment. Advanced Micro Devices (NASDAQ:AMD) reports earnings after the close, and investors treat them as a read-through for the group. Semiconductor ETFs are up roughly 3% and the Nasdaq Composite is up 1.1%, though the Nasdaq-100 is still about 10% below its recent high.

The State Street Technology Select Sector SPDR ETF is trading about 1.5% higher at $176.80 after an 8.3% decline in October, its worst month since March 2025. NVIDIA is the fund's largest holding.

Price Target Cut and Customer Mix in Focus

Melius cut its price target to $315 from $420 and kept a Buy rating, citing the Volume of AI-related Debt and Equity issuance. NVIDIA is also telling cloud partners to sell at least 51% of their services to non-Chinese customers. Oracle's (NYSE:ORCL) $20 billion offering and record technology debt spreads were among the financing concerns that weighed on the sector on Monday.

The stock has a forward price-to-earnings ratio of 15.01, a trailing ratio of 26.16, trailing earnings of $5.84 per share, a Dividend Yield of 0.25% and a 52-week range of $164.27 to $243.37.

The November 17 Report and AMD Results Are the Next Markers

NVIDIA is trading higher with the semiconductor group after a four-session decline. The next items to follow are AMD's results after the close today, the reaction to the midterm election outcome for AI-linked names and NVIDIA's own earnings report on November 17.