Nvidia Lags Market as Cramer Flags Underperformance on Earnings Reports

Nvidia shares have extended their post-earnings slide, trading near $209-$212 and underperforming the broader market through late May. After the May 20 beat-and-raise that delivered $81.6 billion Q1 revenue and $91 billion Q2 guidance plus an $80 billion buyback hike, investor attention shifted to digestion of results, China exclusion, $18.58 billion in venture investments, and TSMC supply constraints. Jim Cramer noted on May 29 that the stock has begun to underperform when it reports, echoing valuation concerns and an Apple-2018-style pivot narrative at a $5.3 trillion market cap.