Nvidia Awaits Earnings Near $220 as Sky-High Hopes Mount

Nvidia shares slipped near $220 on May 19 ahead of fiscal Q1 results due after the close on May 20. The pullback follows a run to record highs above $236, with investors trimming positions amid consensus expectations for record revenue near $78.8 billion and $1.77 adjusted EPS. Prediction markets price a 95%+ probability of a beat while KeyBanc and Morgan Stanley raised price targets to $300 and $285 on Blackwell and Rubin momentum. Hyperscaler capex forecasts above $700 billion reinforce the AI demand backdrop, though China uncertainty and supply constraints remain focal points.