NVDA: Nvidia Stock in the Red for the Year Ahead of Big Earnings Update. Here’s What to Expect.

Chipmaker is floating at a loss for the year as the AI run has lost some of its steam. Can the quarterly figures catapult the shares in the black?

📉 Nvidia in Red in 2025

• Nvidia stock NVDA was gyrating 4% under the flatline for the year Thursday as traders and investors were cautiously waiting for the company’s first-fiscal quarter 2026 earnings report.
• Coming Wednesday, May 28, after the closing bell, this one’s going to be a massive event that could shake the fabric of the stock market.

🧐 The Figures: Big Hopes

• Investors are looking for Nvidia to pull off another blockbuster print — or risk deeper doubt that the AI-fueled rally can keep pace.
• Expectations are high: the Street is eyeballing earnings per share of $0.73, up from $0.61 a year earlier, and a staggering, record $43.3 billion in revenue versus $26 billion picked up at the same time last year.

🥊 $5.5 Billion Hit

• There’s also a potential hit that could weigh on Nvidia’s top and bottom lines. The chipmaker recently disclosed a $5.5 billion writeoff tied to H20 chips designed for the Chinese market. Why? US export controls torpedoed Nvidia’s ability to sell them.
• That painful loss — even for a company with Nvidia’s firepower — raises questions about the vital China exposure and whether that part of the business can be made whole.

🎤 Hear It from the Man Himself

• Besides the actual performance figures for the quarter, markets will be tuning in to hear from the man himself. Jensen Huang, Nvidia CEO, will be speaking to shareholders, presenting the roadmap and laying out the forward guidance.
• Is there a pivot in play to replace lost China revenue? What’s the status of AI chip demand in other markets? But also, what’s up with the shift to selling to whole nations as a way to diversify away from selling to Big Tech?

🎨 New Revenue Streams in the Works

• That’s the potentially bullish case. Nvidia is expanding its footprint in the Middle East. The company has been deepening ties with Saudi Arabia and the United Arab Emirates, where sovereign-backed AI investments are ramping up.
• While it’s early innings, Wall Street will be eager to hear whether Gulf demand can help fill the China gap — and whether it will show up on the revenue line this year or next.