Mizuho kept its outperform rating on NVIDIA as the chipmaker continued to trade near the $200 level, even after a modest pullback on Monday. The firm said NVIDIA remains the leader in AI training and inference chips for data center use, with market share above 75% today. It also said that the AI segment could grow at about a 60% compound annual rate and exceed $500 billion by 2028.
NVIDIA shares traded at $199.86, down 0.79% on the day. Even so, the stock stayed above key moving averages, which pointed to continued strength after a long rally. The move came after NVIDIA posted 11 straight winning sessions last week, its longest run of gains since the stock began trading in 1999.
Mizuho said it is maintaining its positive stance on NVIDIA as demand for AI chips remains strong. In its note, the firm said, “We see NVDA remaining the leader in the AI training and inference chips for Data Center applications.” It added that the market is still expanding at a rapid pace, which supports NVIDIA’s position in the sector.
The renewed call came as investors continued to assess NVIDIA’s role in the broader AI supply chain. Recent earnings from Taiwan Semiconductor and ASML also drew attention because both companies serve major parts of the semiconductor market. Taiwan Semiconductor beat first-quarter estimates, while ASML also reported an earnings beat, though its current-quarter sales outlook came in below expectations.
NVIDIA remained above its SMA-20 at $181.45, SMA-50 at $183.30, and SMA-200 at $181.77. The Ichimoku Kijun level at $182.98 also stood as near-term support. These levels suggested that the stock kept a firm technical base despite the slight decline during Monday’s session.
At the same time, several momentum readings showed overbought conditions. The RSI stood at 71.19, the CCI reached 156.30, and the Stoch RSI was at 100. The MACD continued to show a buy signal, while the ADX reading of 15.28 pointed to a weak but still active trend. BBP came in at 12.44, and the Awesome Oscillator also stayed supportive. Together, those indicators showed strong momentum, although they also suggested that buyers may be slowing after the recent advance.
The current trading range for next week is expected to be between $194.00 and $204.00. A move above $204.00 could open the door to another upward leg. On the other hand, a break below $194.00 may increase the chance of a deeper pullback.
NVIDIA’s latest quarterly results continued to support the company’s growth story. In the fourth quarter, earnings rose 82% to $1.62 per share, while revenue increased 73% to $68.1 billion. Analysts had expected $1.54 per share on $66 billion in revenue. NVIDIA also projected first-quarter sales of $78 billion, which came in above Wall Street estimates of $73 billion.
Still, the company faces closer scrutiny from investors as competition builds. Huawei said its Ascend 950PR processor delivers nearly 2.87 times the performance of NVIDIA’s H200 AI chip. NVIDIA also remains exposed to policy and trade risks tied to China, where demand for advanced chips is still under close watch.
Separately, on April 14, NVIDIA denied a report that it was in talks to acquire a PC maker. A company spokesperson said the report was false and that NVIDIA was not involved in such discussions.
Meanwhile, Foxconn posted strong early first-quarter results, with revenue rising 30% year over year to $66.6 billion. This performance added fresh support to expectations for continued demand across NVIDIA’s AI hardware ecosystem.
Also Read: NVIDIA’s $22 Trillion Outlook Faces Supply Strain as Rival AI Chips Gain Attention