Nvidia (NVDA) stock saw a post-earnings rally fade, dropping 3% below the 50-day moving average after CEO Jensen Huang highlighted record sales for Blackwell GPUs. Despite concerns about an AI bubble and chip export restrictions, Nvidia still boasts year-to-date gains of over 30% and impressive sequential growth in Q3.

With Q3 sales up 62% year-over-year to $57 billion and EPS growth of 60% to $1.30, Nvidia continues to impress investors. The 22% sequential gain from last quarter signals strong demand for Blackwell GPUs and demonstrates Nvidia’s resilience against competition from other chipmakers like AMD.

Nvidia’s Q4 revenue guidance of $65 billion showcases the company’s dominant position in AI, with demand for training and inference workloads driving growth. Strategic partnerships with companies like Uber and OpenAI further solidify Nvidia’s foothold in the AI ecosystem, with the Vera Rubin platform set for a Q3 2026 launch.

Analysts have been upgrading price targets for NVDA following a robust Q3 report, with an Average Zacks Price Target of $239.49 suggesting a 28% upside. Despite concerns about Nvidia’s valuation, positive EPS revisions and favorable guidance point to a potential return of mojo for the stock, backed by a Zacks Rank #2 (Buy).

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Read more at Nasdaq: Does Nvidia Stock Still Have Enough Mojo to Buy?