Nvidia falls in early trade despite earnings beat; semiconductor stocks weaken

Lam Research

26/02/2026 15:39

Updates at market open

** Nvidia shares down 5.35% at $185.64 in early trade

        ** Despite better-than-expected results from Nvidia, investors, accustomed to 14 straight quarters of revenue beats, were likely disappointed by the chipmaker's lackluster results

        ** Semiconductor stocks lose ground as Nvidia falls after results, Applied Materials down 5.3%, Broadcom down 5.2%, Lam Research falls 5%, Philadelphia chip index slips 3%

** Nvidia's Q4 revenue rose 94% to $68.13 bln, topping estimates; EPS also beat

** "Despite the beat-and-raise and bullish AI outlook from management, we believe there have not been any new narratives," said an HSBC analyst

** CEO Jensen Huang said AI compute "not going to go back," flagging sustained demand

** Guidance includes no China revenue, though it gained approval for limited H200 shipments under U.S. export rules.

** YTD, stock up ~5%

 (Reporting by Kanishka Ajmera and Rashika Singh in Bengaluru)

 ((Rashika.Singh@thomsonreuters.com;))