Nvidia Holds AI Leadership as Bullish Trends Emerge Near $202

As of July 13, Nvidia shares trade near $201.76 amid ongoing rotation toward memory and custom-chip names, yet analysts like John Belton reaffirm its central role in the AI trade. The stock has lagged despite fiscal Q1 2027 revenue surging 85% to $81.61 billion and an $80 billion buyback authorization. Earlier concerns over hyperscaler alternatives, China revenue falling to zero, and a market-cap dip below $5 trillion have been offset by strong Q2 guidance of $91 billion and expanding sovereign and enterprise demand. Recent commentary highlights that the next AI phase beyond initial GPU spending remains undervalued.