NVIDIA's stock price rose by about 5.2% before the market opened on November 11, following a loss of nearly $430 billion in market value over the previous two trading days.
CoreWeave Strong performance and upward-revised revenue guidance have alleviated market concerns regarding the slowdown in AI infrastructure spending.
As investors assess the uncertainties related to leadership, inflation risks, and the financial report on November 17th, the rebound of NVDA will face new challenges.
After a sharp decline, NVIDIA's stock price is showing signs of recovery. In pre-market trading on November 11, the stock rose by about 5.2%. This rebound occurred following a previous round of declines; NVIDIA closed at $168.89 on the previous trading day, with market concerns regarding CEO Jensen Huang and the broader uncertainties in the AI industry weighing on tech stocks. The strong performance announced by AI, a cloud service provider, has now brought buying back into the market. Will NVIDIA be able to sustain this recovery before its financial report on November 17?
CoreWeave Rebuilds Market Confidence in AI Spending
A major catalyst for the rebound on Wednesday was the latest quarterly earnings of CoreWeave. This AI cloud service provider announced third-quarter revenue of $3.66 billion, a 168% increase from $1.36 billion in the same period last year. The company also raised its full-year revenue forecast for 2026 to $13 billion to $13.3 billion, from the previous range of $12 billion to $13 billion.
Stronger forecasts helped alleviate market concerns about a possible slowdown in infrastructure investment in AI. CoreWeave's stock price rose by over 10% before the market opened, and NVIDIA, Micron, and Marvell also saw increases.
Leadership remains concerned about inflation risks
This round of repairs comes after NVIDIA suffered significant losses due to doubts surrounding Jensen Huang and reports about internal investigations. The related controversies have put additional pressure on an already weak technology market, while investors are also dealing with inflation data in the United States that exceeded expectations. The inflation data for October has strengthened market expectations for another interest rate hike by the Federal Reserve in December, which poses an additional challenge for high-valued tech stocks.
Although the rebound on Wednesday indicates that investors are willing to buy into recent pullbacks, these concerns may still continue to cause volatility. A single-day strength does not necessarily mean that potential risks have been eliminated.
NVIDIA Stock Analysis: Can NVDA Hold Above $175?
NVIDIA closed at $168.89 on November 10, down 5.47%, and entered the demand range of $165 to $175. Before the market opened, it rebounded to around $177 to $178, bringing the stock price back above this key area, indicating early buying interest. However, this recovery still requires continuation during regular trading hours. If it can remain above $180, the short-term technical outlook will improve; if it falls below $175, the demand range will still be under pressure. Higher resistance levels are still around $204 to $212, and the stock's moving average is located in this region.
The financial report on November 17th may determine NVIDIA's next move.
NVIDIA's upcoming financial report is the next major catalyst. Investors will focus on data center revenue, demand for the latest AI processors, profit margins, and management's outlook for future growth.
Strong performance and guidance may boost market confidence in the company's long-term AI opportunities. However, after recent fluctuations, the market may expect more than just another time when revenue exceeds expectations. Investors will also be looking for evidence that customer spending remains sustainable. The next test will be whether buying momentum can be maintained throughout the trading period and before NVIDIA's financial report is released on November 17th.
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