Nvidia posts longest losing streak in nearly five years

Nvidia has had a rough week, and Wall Street is paying attention. The chipmaker’s stock fell for four consecutive sessions from August 17 through August 20, 2026, marking its longest losing streak in nearly five years and rattling investors who had grown accustomed to the company doing very little wrong.

The selloff shaved roughly $10 off the share price across the stretch, with closing prices falling from around $225.01 on August 17 to $216.85 by August 20. The stock settled near $214.72 the following session. For a company sitting at a market cap north of $4.86 trillion, that kind of move represents hundreds of billions in paper losses within a matter of days.

What’s driving the pullback

The decline isn’t happening in a vacuum. Rising Treasury yields have been applying pressure across high-valuation tech stocks, and Nvidia sits at the very top of that category.

There’s also a timing element at play. Nvidia’s Q2 earnings report is scheduled for August 26, and history suggests traders tend to get cautious ahead of the announcement. The company has a track record of seeing share prices dip in the immediate aftermath of earnings releases, even when the underlying numbers impress.

None of that changes the underlying business. Demand for Nvidia’s AI chips, particularly in data centers, continues to run hot. The company remains the dominant supplier of the hardware that powers large language models and the broader AI infrastructure buildout.

The bull case and the risks sitting next to it

Bank of America analysts have a price target of $350 on the stock, implying it views Nvidia as roughly 50% undervalued relative to its peers at current levels.

Export restrictions are a particular concern worth flagging. Nvidia sells advanced chips globally, and the regulatory environment around what technology 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 everything happening in the stock right now. If Nvidia’s Q2 results come in ahead of expectations, the immediate move could still be flat or negative based on historical precedent, before the stock recovers once the dust settles.

On the other hand, a genuine miss or a cautious forward outlook from management would carry more weight than usual given where the stock is trading and how much growth the market has already priced in.

Bank of America’s $350 target suggests the fundamental case remains intact regardless of near-term noise. The four-day losing streak is worth noting precisely because streaks this long are rare for this company.

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