Nvidia stock closed at $190.17, up 1.77%, now 8% lower than its October peak. Skepticism about AI grows as investors await Q3 earnings on November 19. Hedge fund manager Michael Burry shorts Nvidia, while SoftBank sells all shares ($5.8 billion) for an “all-in” bet on OpenAI.

Pressure mounts on Nvidia as AI skepticism increases. Bank of America analysts revise revenue and EPS forecasts to address bubble fears. The company faces high earnings expectations and skepticism around AI capital expenditures. Broader market volatility from government shutdown and interest rates adds to challenges.

Bank of America raises long-term sales estimates for Nvidia. The company is the only merchant chip supplier with proven AI cluster execution. Analysts predict three chip generations by the second half of 2026. Cloud capital expenditure concerns seasonal, expected to resolve with new year and customer outlooks.

Analysts raise non-GAAP EPS estimates for fiscal years 2026/27/28 by 3%/12%/14%. Sales estimates for same years revised upwards. Bank of America reiterates buy rating with a target price of $275 based on historical forward year price to earnings range of 25 to 56.

Read more at Yahoo Finance: Bank of America resets Nvidia stock forecast before earnings