Nvidia Stock Just Did Something It Has Never Done Before. History Says the AI Stock Could Do This Next.

Nvidia’s monster third quarter, bullish guidance, and multi-trillion dollar potential was not enough to satisfy Wall Street. Similar to what happened last quarter, the world’s largest stock ticked more than two percent lower in overnight trading following the blowout earnings report:

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Certain research has shown that investors tend to put too much faith in past earnings. Over time, this leads to a stock being overbought in the lead-up to an earnings release and a short-term dip after the release. What Nvidia is experiencing is very normal.

U.S. stocks climbed after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected

Goldman Sachs said Nvidia has another trick up its sleeve to drive its stock price higher going forward: a massive stock buyback program.

Nvidia shares moved higher in premarket trading Thursday after the AI investor favorite released results and an outlook that surpassed Wall Street expectations. Monitor these important chart levels.

Asian shares were mostly lower on Thursday after a mixed close on Wall Street, with regional markets shrugging off a strong profit report from Nvidia that was released after U.S. markets closed. Nvidia again topped analysts' expectations,

The chipmaker is the most valuable company on the S&P 500 index, reporting about $19 billion in profit. But its stock price dipped after Wednesday's earnings report.

Target’s stock was down more than 20% in afternoon trading, compared with a 0.6% decline for the S&P 500 index, according to FactSet data, at last check. The S&P 500’s consumer-staples sector was slumping 0.4% on Wednesday afternoon.