Nvidia stock’s losing streak hit a sixth day on Friday. That is its longest run of declines in four years. The earnings report that could end it lands Wednesday.
So is Nvidia stock a buy after the slide? Every analyst covering it says yes. The reason for the selling, though, has not gone away.
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Why the Nvidia Stock Losing Streak Kept Going
The slide is small. It is also stubborn. Nvidia last closed higher on August 13, at $225.30. By Friday it sat at $214.75. That is 4.7% gone in six sessions.
The shape matters more than the size. Four of those six days lost less than 1%. A single session, August 18, did half the damage with a 2.34% drop. This is a slow leak, not a crash.
The 2022 comparison flatters it. Nvidia fell seven days straight into September 6, 2022, shedding 24% and closing at its lowest level since March 2021, data from the period shows. That slide was five times deeper than this one. The record here is the length, not the pain.
No single event set it off. The pressure dates to August 10. That day, Nvidia announced financing platforms with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR.
The plan is to raise more than $500 billion from outside investors. That money helps customers buy Nvidia computing power. The stock fell 2.9% on the news.
Here is the worry in plain terms. Nvidia helps its customers find money. Those customers spend that money on Nvidia chips. Critics call it circular financing.
It is not a one-off. Last week, a securities filing revealed Nvidia had guaranteed up to $105 billion in lease obligations tied to an OpenAI campus in Ohio.
Is Nvidia Stock a Buy Before Wednesday’s Earnings?
Nvidia reports on August 26, after the closing bell. The quarter runs through July 2026.
Analysts expect earnings of $2.01 per share. That would be 103% above the $0.99 posted a year earlier. Revenue guidance points to roughly $91 billion, up from $81.6 billion last quarter. Nvidia has beaten estimates four quarters running.
Price targets stay bullish. All 26 analysts tracked by TipRanks rate the stock a buy, with none at hold or sell. Their average target of $301.82 sits about 40% above Friday’s close. Bank of America’s Vivek Arya has held a $350 price target into the print.
One number complicates that picture. Nvidia gained 19.7% over the past year. Its technology sector rose 37.1% in the same stretch. The company at the center of the AI trade has lagged the AI trade.
The recent record is stranger still. Nvidia has beaten estimates four quarters running. It has also fallen the day after every one of them.
Those four reports cost the stock 2.79% on average the next day and 5.31% across two days, by Motley Fool analyst Sean Williams’ count of the post-earnings moves. Beating Wall Street has not been enough to lift the shares.
Nvidia Keeps Buying Power, Not Just Chips
On Friday, Nvidia disclosed a minority investment in Cloverleaf Infrastructure. Terms were not disclosed.
Cloverleaf makes no chips and runs no servers. Founded in 2024, it buys land, secures grid power, and sells sites that are ready to build on.
The company has sold more than 7 gigawatts of powered projects, including Wisconsin sites tied to Oracle and OpenAI, according to trade reporting. Its pipeline runs past 10 gigawatts.
Nico Caprez, vice president of global AI infrastructure growth at Nvidia, explained the thinking.
“AI factories are the infrastructure of the intelligence age, and land, power and shell are their foundation,” he said.
Electricity, not silicon, is now the hard limit on AI growth. So Nvidia is paying for the power years before the chips arrive.
So will earnings end the losing streak? On recent form, the report is at least as likely to extend it. The numbers have not been Nvidia’s problem. The assumptions built on top of them have.
Until Wednesday, the circular financing debate is what traders are trading. After it, the question becomes whether even a record quarter is enough.