TLDR
- Nvidia stock rose 1.3% to $192.32 Monday, while most chip stocks fell following Trump’s new 15% global tariff announcement.
- SK Group’s chairman pledged to increase AI memory chip production, a potential supply chain boost for Nvidia.
- Earnings are due Wednesday, with analysts expecting $1.51 EPS on $65.94 billion in revenue.
- KeyCorp reiterated an “overweight” rating with a $275 price target, implying ~45% upside.
- Insiders sold over $291 million in Nvidia stock in the past 90 days, raising some caution flags ahead of earnings.
Nvidia $NVDA edged higher Monday morning, climbing 1.3% to $192.32 in early trading. That move came despite a broad pullback in tech after President Trump announced a new 15% global tariff on Sunday.
The Nasdaq fell 0.5% and the S&P 500 dropped 0.3% on the news. Fellow chip makers weren’t as lucky — Advanced Micro Devices $AMD dropped 1.9%, while Broadcom $AVGO slipped around 1%.
So why was Nvidia holding up? Part of the answer may lie in South Korea.
Chey Tae-won, chairman of SK Group — parent company of SK Hynix — pledged Friday to ramp up production of AI memory chips. He made the comments at a conference in Washington, Bloomberg reported.
SK Hynix makes high-bandwidth memory chips, the kind Nvidia’s GPUs depend on. More supply from SK Hynix could help ease the memory shortages that have been a constraint for Nvidia. SK Hynix itself said in its latest quarterly report it expects “a considerable increase” in capital expenditures this year.
Still, Monday’s bump doesn’t change a broader pattern. Nvidia stock has been rangebound for roughly six months, trading in a relatively tight band with no major breakout in either direction.
The stock opened Monday at $189.82, within its 52-week range of $86.62 to $212.19. Its market cap sits at $4.61 trillion, with a P/E ratio of 47.10 and a beta of 2.31.
Earnings on Wednesday
All eyes are now on Wednesday, when Nvidia reports after the closing bell. Analysts polled by FactSet expect adjusted earnings of $1.51 per share on revenue of $65.94 billion for the January quarter.
Investors will be watching closely for updates on Blackwell chip demand, hyperscaler spending, and any forward guidance that could move the stock out of its months-long holding pattern.
Post-earnings volatility is expected to be sharp. Analysts have flagged high implied volatility going into the print, warning that the stock could swing hard in either direction — even on a beat — as implied volatility collapses after the report.
Analyst Ratings and Insider Activity
On the analyst front, KeyCorp reiterated its “overweight” rating Monday with a $275 price target. That implies roughly 44.9% upside from Friday’s close.
Other firms are similarly bullish. UBS has a $245 target, Wolfe Research sits at $275, and the consensus across analysts tracked by MarketBeat is a “Buy” with an average target of $264.20. Out of 52 analysts, 46 have a Buy rating and just two have a Hold.
One area drawing more scrutiny: insider selling. Over the past 90 days, insiders have sold 1,610,848 Nvidia shares worth approximately $291.6 million. Director Mark A. Stevens sold 222,500 shares in December at an average of $180.17. Director Harvey C. Jones sold 250,000 shares at $177.33 per share.
Institutional investors hold 65.27% of the stock, and several smaller funds added new positions in recent quarters.
Meta’s announced increase in 2026 capital expenditure has also been cited as a direct tailwind for Nvidia GPU demand heading into the report.
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