Nvidia Stock Holds Below $200 at $4.7T Valuation Amid AI Rotation

Nvidia shares remain below $200 and nearly flat for 2026 after a 17% pullback from May highs, holding a $4.7 trillion market cap as of July 7. The period opened with strong Q1 FY27 results showing 85% revenue growth to $81.6 billion and 140% EPS growth, followed by management’s forecast of global AI data-center capex surging to $3-4 trillion annually by 2030. Despite rotation into AMD and Intel, the stock trades at 22x forward earnings with Wall Street projecting targets near $300-$319 if revenue and earnings continue to scale, supported by Blackwell, Vera Rubin ramps and hyperscaler spending.