Nvidia (NVDA) Stock Surges to New All-Time High Ahead of May 20 Earnings Report

Table of Contents Shares of Nvidia reached $219.44 at Monday’s close on May 11 — posting a 2% daily gain and notching the company’s third record-breaking close of 2026. This marked the fourth consecutive trading session of positive momentum, representing NVDA’s longest winning streak since late October 2025. NVIDIA Corporation, NVDA The semiconductor leader’s previous closing record stood at $216.61, achieved on April 27. During this four-session rally, shares appreciated 13%, translating to approximately $550 billion in additional market value. For perspective, fewer than 20 publicly traded companies in the United States command a total valuation exceeding $550 billion. Nvidia’s current market capitalization has reached $5.33 trillion. This upward movement coincided with broader enthusiasm surrounding AI chips across the semiconductor industry. However, Nvidia’s 2026 performance has surprisingly trailed several competitors. While achieving new record highs, NVDA has advanced only 15% year-to-date as of last Friday’s close. This performance falls significantly behind Intel and AMD, which have each approximately doubled their valuations in 2026. What explains this divergence? Market participants have increasingly focused on central processing units (CPUs) and their importance in AI inference — the operational phase where trained models execute and generate results. This represents the competitive domain where AMD and Intel excel. “The gold-plated investment in AI is now stagnating, while the second in line are making new highs almost every day,” noted Richard Windsor, an independent analyst at Radio Free Mobile. “The market’s attention has also passed from chip supply to electricity supply and CPUs, as these are rapidly becoming a bottleneck.” This represents a significant transition for a corporation that has commanded the AI hardware narrative throughout recent years. Nvidia’s upcoming fiscal Q1 earnings announcement on May 20 represents the next critical milestone for investors. Analyst consensus forecasts first-quarter revenue reaching $78.6 billion — representing a 78% increase compared to the prior-year period. Ben Reitzes from Melius Research anticipates “a strong report with a meaningful beat and raise.” He further contends that NVDA appears undervalued, trading at approximately a 50% discount relative to AMD after accounting for stock-based compensation. Reitzes maintains the most bullish Wall Street price target at $380, based on FactSet tracking. Among 70 analysts monitored by FactSet, 65 assign Nvidia a Buy rating. A separate analyst consensus comprising 42 professionals yields a Strong Buy recommendation, based on 40 Buy ratings, one Hold, and one Sell opinion issued over the most recent three-month period. The mean price target across these 42 analysts stands at $274.38 — suggesting approximately 24% potential appreciation from present levels.