Maybe we should all agree to not talk about Nvidia’s stock after earnings
It’s probably making people dumber.
For the past year, Nvidia’s earnings days, and the sessions that follow, increasingly feel like they’re designed in a lab to make people like me look like idiots for trying to offer any thoughts on what the results and the market reaction actually mean.
Shares of the chip designer are meandering in early trading Thursday after doing a whole lot of nothing following the release of fiscal Q1 2027 results on Wednesday afternoon, which included a conference call with CEO Jensen Huang and CFO Colette Kress.
If Nvidia falls today, it’ll be the fourth consecutive time the world’s most valuable company gave back ground in response to better-than-expected quarterly results.
And you know what? Those days have meant diddly squat in the grand scheme of things.
Since Nvidia unofficially kicked off the AI boom in May 2023, it’s had a one-day decline after earnings on four separate occasions. Three months after that knee-jerk sell-off, it’s rocketed higher, besting the S&P 500 meaningfully (in aggregate), too.
The one exception was August 2025, when the stock didn’t even drop 1% the session after the report was released.
The 24 hours following Nvidia’s earnings reports are increasingly a time when financial journalists feel pressure to engage in creative writing about lines on charts because there are often no compelling, reasonable stories to tell. You end up reading things like, “Nvidia’s earnings beat expectations, but the stock is selling off because they didn’t beat the highest expectations” — as if that makes a lick of sense or is a standard we apply to most securities.
When the world’s most valuable company reports, it’s easy to miss the forest for the trees. Here’s some forest. Among S&P 100 companies:
For the most recent quarter versus the year-ago period, Nvidia’s revenue growth is better than all but one of them (Micron).
It’s the fourth-cheapest based on price to (forward) earnings growth.
It has the 13th-strongest earnings revisions year to date, bested only by other chip or AI-linked companies and a couple of oil companies.
