Nvidia (NVDA) once again delivered a blockbuster quarter, reporting $46.7 billion in revenue, up 56% year-over-year, and net income of $26 billion, placing it behind only Alphabet and Microsoft in S&P 500 profitability. Adjusted EPS came in at $1.05, topping expectations of $1.01.
Despite the stellar results and strong guidance for Q3 revenue at $54 billion (above the Street’s $53.4 billion forecast), shares dipped over 3% in after-hours trading. The disappointment stemmed from Nvidia’s data center revenue of $41.1 billion, narrowly missing the $41.3 billion consensus. With expectations set sky-high, even a minor miss was enough to spark profit-taking.
CEO Jensen Huang highlighted extraordinary demand for the Blackwell platform but noted supply constraints as a factor limiting data center growth. Geopolitical risks remain in play, with zero China H20 GPU sales recorded during the quarter due to ongoing U.S. export restrictions.
Technical Analysis
On the daily chart, Nvidia has been consolidating near recent highs, with price currently trading just below resistance at $180–183. The stock has respected key moving averages, with the 50-day SMA ($178.7) and 100-day SMA ($156.9) trending higher, while the 200-day SMA ($138.4) continues to provide long-term support.
- RSI sits around 57, suggesting neutral momentum with room to move higher before reaching overbought territory.
- The PPO is flattening, indicating slowing momentum after a strong run earlier in the year.
- Major support levels lie at 150, 144, and 130, while resistance remains at 180–183, followed by all-time highs above $200.
If price can break above 183, Nvidia could challenge psychological resistance at $200 and push into new highs. However, failure to clear this zone could see consolidation or a pullback toward 150 support.
Sector Context
Big Tech peers Apple (+0.90%), Google (+2.01%), Microsoft (+0.57%), and Amazon (+1.08%) also gained on Thursday, showing strong investor appetite across the sector despite Nvidia’s mixed reaction. Apple in particular continues to trade strongly at $232.56, further lifting sentiment across the tech space.
Nvidia’s growth story remains intact, but the stock’s reaction highlights just how lofty investor expectations have become. Traders will be watching closely to see if price can break above resistance or whether supply and geopolitical headwinds weigh further on performance.
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