Trump call adds Nvidia CEO to Beijing trip; stock eyes 30% upside
President Trump called Nvidia CEO Jensen Huang, who joined the Beijing delegation; Nvidia shares have rallied since a May 6 breakout and target about 30% upside to $267 before May 20 earnings.
Nvidia Chief Executive Jensen Huang joined President Trump’s delegation to Beijing after a late phone call from the president on May 12. Huang flew to Alaska to board Air Force One and attended the trip, which renewed focus on access to Nvidia’s H200 AI chips in China.
Nvidia shares have climbed for seven consecutive sessions following a bull-flag breakout on May 6. The stock reached about $227 on May 13. The measured move from the breakout projects roughly a 32% gain from the breakout zone, placing a textbook technical target near $267.
Huang has estimated the China AI chip market could be worth about $50 billion over the next two to three years. Nvidia recorded an approximately $4.5 billion charge in its July quarter after U.S. licensing restrictions were implemented. Earnings are scheduled for May 20.
Several Wall Street firms updated Nvidia price targets in the past 48 hours. Bank of America raised its target to $320 from $300. Wells Fargo increased its target to $315 from $265. Susquehanna raised its target to $275. Citi and Oppenheimer reaffirmed targets at $300 and $265, respectively.
Institutional flow indicators show net positive large-money buying but a weakening trend. The Chaikin Money Flow stood near 0.24 on the daily chart after peaking in late April and then trended lower while the share price rose. The put-call volume ratio was about 0.32 on May 13, up from 0.29 around the May 6 breakout, while the open-interest ratio eased slightly to about 0.80 from 0.81.
Technical pivots are also noted. The $227 level corresponds to the 0.618 Fibonacci from the recent range and is a short-term decision point. A daily close above $227 would put nearer-term resistance at $235 and $247 and keep the $267 pattern target in play. Extensions align at about $279 and $332. Support levels are near $214 and $207; a close below $207 would weaken the breakout structure, and a break under $194 would represent a deeper invalidation.
Traders and investors are monitoring institutional flow measures, options positioning and the May 20 earnings report for further market signals.
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