NVIDIA shares fell 10.0% over five trading days between January 30 and February 5, 2026. The stock closed at $171.88 on February 5. A broader technology sector selloff drove the decline. Investor concerns regarding elevated AI infrastructure spending from competitors like Alphabet and Amazon triggered a SaaSpocalypse rotation away from growth stocks.
Goldman Sachs maintains a buy rating for NVIDIA with a $250 price target. The bank expects NVIDIA to exceed Q4 revenue estimates by approximately $2 billion. Analysts anticipate the company will deliver strong earnings results.
Goldman Sachs notes that much of the 2026 upside is already priced into the stock. Near-term performance depends on revenue visibility for 2027. Key catalysts include hyperscaler capital expenditure revisions and demand from non-traditional AI customers. Downside risks include AI spending slowdowns and competitive margin pressure.