Nvidia Drops 18% to $197, Analysts Target $301 on Record Q1 Results

NVDA3.66%
According to StockAnalysis and TradingKey, Nvidia (NVDA) fell to approximately $197 on July 9, 2026, marking an 18% decline from its May 14 record close of $235.47. Despite the drawdown, 61 covering analysts averaged a twelve-month price target of $301.62, representing roughly 53% upside, with individual estimates ranging from $195 to $350 and beyond. Prediction-market traders on Polymarket priced an 84% probability of NVDA touching $208 in July. The stock decline occurred amid rotation and profit-taking rather than fundamental deterioration, as Nvidia's fiscal first-quarter 2027 revenue hit a record $81.6 billion, up 85% year-on-year, with forward price-to-earnings at 21.7x versus a five-year average of 72x.
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