Nvidia stock rebounds 2% after seven-day slide

Nvidia shares rose about 2% to $212 on Tuesday, potentially ending a seven-session losing streak ahead of its fiscal second-quarter earnings report due Wednesday after market close. The decline was Nvidia's longest since 2022, with shares falling 7.5% during that period. The stock is up roughly 15% this year, underperforming the PHLX Semiconductor Index's 66% gain. Analysts expect Nvidia to beat revenue estimates, with BMO forecasting a $2-3 billion upside to the $92 billion consensus. Investor concerns focus on customer concentration, as Nvidia relies heavily on hyperscalers like Amazon, Google, and Microsoft. Several major clients reported negative free cash flow, raising questions about AI spending sustainability. BMO and Raymond James maintained positive ratings, citing data center strength and growth in Nvidia's CPU business.