Key Highlights
- NVDA shares advanced 2% to reach $219.44 on May 11, marking the third all-time closing high of 2026 and extending gains to four consecutive sessions.
- The chipmaker’s shares have surged 13% across four trading days, boosting market capitalization by approximately $550 billion.
- Despite recent strength, Nvidia’s 15% year-to-date performance lags behind Intel and AMD, which have each doubled in value during 2026.
- First-quarter results scheduled for May 20 represent the next major event; analysts project Q1 revenue reaching $78.6 billion, reflecting 78% annual growth.
- Ben Reitzes of Melius Research maintains the highest price target at $380 and notes NVDA trades at approximately a 50% valuation discount compared to AMD.
Nvidia shares reached $219.44 at Monday’s closing bell on May 11 — representing a 2% daily increase and establishing the third record closing high of 2026. The session marked the fourth consecutive day of positive momentum, the longest winning streak for NVDA since October 29, 2025.
The prior all-time closing high stood at $216.61, achieved on April 27.
Throughout this four-session rally, shares have appreciated 13%, contributing approximately $550 billion to the company’s market valuation. For perspective, fewer than 18 publicly-traded U.S. corporations command a total market capitalization exceeding $550 billion. Nvidia’s current market cap stands at $5.33 trillion.
The rally occurred alongside broader enthusiasm surrounding AI chips that elevated the entire semiconductor space. However, Nvidia has actually underperformed certain competitors this year.
Trailing Behind Rivals Intel and AMD
Notwithstanding the record-setting close, NVDA has gained merely 15% year-to-date through the previous Friday. This performance trails both Intel and AMD, which have each approximately doubled their valuations in 2026.
The explanation? Market participants have been shifting focus toward CPUs and their significance in AI inference — the phase where trained models execute and generate results. This represents AMD and Intel’s competitive domain.
“The premium investment thesis around AI has stalled, while secondary players continue establishing new peaks almost daily,” observed Richard Windsor, an independent analyst at Radio Free Mobile. “Market focus has also migrated from chip availability to power supply and CPUs, as these elements are quickly becoming constraining factors.”
This represents a significant transition for an enterprise that has commanded the AI hardware narrative throughout recent years.
May 20 Earnings in the Spotlight
The upcoming critical milestone for Nvidia arrives on May 20, when management presents first-quarter fiscal performance.
Wall Street analysts forecast quarterly revenue of $78.6 billion — representing 78% growth compared to the prior-year period.
Ben Reitzes from Melius Research anticipates “a robust report featuring a substantial beat and raised guidance.” He further contends NVDA represents value, trading at roughly a 50% discount relative to AMD after accounting for stock option adjustments.
Reitzes holds the highest Wall Street price target at $380, based on FactSet data.
Among 70 analysts monitored by FactSet, 65 assign Nvidia a Buy rating. An additional consensus compiled from 42 analysts awards the stock a Strong Buy designation, comprising 40 Buy ratings, one Hold, and one Sell recommendation issued within the previous three months.
The consensus price target among these 42 analysts registers at $274.38 — suggesting approximately 24% appreciation potential from present trading levels.
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