Nvidia shares fall below $200 while analysts maintain bullish price targets

Nvidia's stock closed at $197.58 on July 1, 2026, slipping 1.25% and breaking below the $200 psychological level. Despite the drop, Wall Street analysts continue to forecast strong upside, with consensus price targets ranging from $299 to $309 per share, implying a potential gain of roughly 52%–57% from the closing price. The bullish outlook is based on expected capital spending for artificial‑intelligence workloads, with projected AI‑related expenditures reaching up to $1 trillion by 2027. Technical analysis notes a bullish fall‑keel pattern and divergence that could trigger a breakout toward $235. Valuation remains high at about 21 times projected earnings, but analysts expect the multiple to contract toward 15 times as earnings grow. Overall, market sentiment remains optimistic even as the share price experiences short‑term weakness.