Nvidia shares dip 2.3% ahead of earnings report

Nvidia shares fell 2.3% in morning trading as investors adopted a cautious stance ahead of the company's Q2 FY2027 earnings report due in two days. Wall Street consensus projects revenue of approximately $92 billion and adjusted earnings per share of $2.09, representing roughly 96% year-over-year growth. Some analysts note the upside surprise margin has narrowed, raising disappointment risks if results fail to exceed high expectations. Reports of potential AI server price increases over 15% for major customers fueled concerns about demand suppression. Broader market conditions also pressured tech stocks, with Nasdaq down 0.8% and S&P 500 down 0.3%. Geopolitical tensions, elevated inflation, and 30-year Treasury yields near 5.27% contributed to risk-off sentiment. Insider stock sales totaling about $1.7 billion over the past year added to investor caution.