The selloff follows an earnings report by chip manufacturing equipment supplier ASML which indicated weaker-than-expected sales guidance for 2025, raising concerns

Nvidia has delivered such massive gains in recent years that it's easy to overlook how the stock has performed over the short term. Most investors would be happy with a 20% gain in a year. Nvidia's share price has soared over 20% in the last five weeks.

Nvidia stock was rising Thursday, on track for another record high. TSMC earnings appears to be boosting shares.

After growing revenue 122% last quarter, Blackwell demand could send Nvidia's market capitalization to $3.9 trillion next month — passing Apple as the world leader

Nvidia has a median 12-month price target of $150 per share. That implies 15% upside from its current share price of $131. Arm has a median 12-month price target of $144 per share. That implies 5% downside from its current share price of $151.