Nvidia's stock fell for four straight sessions through August 20, 2026, its longest losing streak in nearly five years. Rising Treasury yields and caution ahead of the chipmaker's August 26 earnings report are driving the pullback, even as Bank of America keeps a $350 price target that implies the stock is roughly 50% undervalued.
Nvidia just closed out its longest losing streak in nearly five years, with the stock falling for four consecutive sessions from August 17 through August 20, 2026. The closing price slid from around $225.01 on August 17 to $216.85 by August 20, before settling near $214.72 the following session.
For a company with a market cap north of $4.86 trillion, the move erased hundreds of billions of dollars in paper value within days.
What's driving the pullback
Rising Treasury yields have been pressuring high-valuation tech stocks broadly, and Nvidia sits at the top of that group. There's also a timing element: Nvidia's Q2 earnings report is scheduled for August 26, and the company has a track record of seeing its share price dip immediately after earnings releases even when the underlying numbers impress.
Demand for Nvidia's AI chips, particularly in data centers, continues to run hot, and the company remains the dominant supplier of hardware powering large language models and the broader AI infrastructure buildout.
The bull case and the risks next to it
Bank of America analysts have a price target of $350 on the stock, implying they view Nvidia as roughly 50% undervalued relative to its peers at current levels. Export restrictions remain a concern, however: Nvidia sells advanced chips globally, and the regulatory environment around what can be shipped to certain markets has been an active source of uncertainty. Any tightening there would directly affect addressable revenue, and analysts have been careful to include that risk in their models even while maintaining optimistic price targets.
What the August 26 report could mean
The earnings date is functioning as a gravitational center for the stock right now. History suggests that even if Nvidia's Q2 results come in ahead of expectations, the immediate move could still be flat or negative before the stock recovers once the dust settles. A genuine miss or a cautious forward outlook from management, on the other hand, would carry more weight than usual given how much growth the market has already priced in.
Source: Crypto Briefing
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