Nvidia beats Q1 forecasts with strong AI chip sales, but export curbs to China hit guidance. Salesforce lifts 2026 outlook on rising AI cloud demand.

Nvidia: The reports, along with cooling trade tensions, have helped fuel a rebound in technology stocks that were at the heart of last month’s S&P 500 rout.\

The chipmaker invested $3.2 billion in capital expenditures in fiscal 2025, expanding Blackwell accelerator production and AI infrastructure. Analysts expect first-quarter 2026 capex to hover around $800 million to $900 million quarterly to meet hyperscaler demand.

Speaking of tariffs, Trump’s latest shot across the bow at Europe—threatening a 50% tariff on EU goods and a 25% hit on Apple iPhones not made in the U.S.—rattled what was already a jittery tape. It’s no longer just China in the trade war crosshairs; Brussels is next. That turns this from a bilateral skirmish into a full-on trade cold war redux.

US stocks remained stable as investors awaited Nvidia's earnings and digested mixed global economic signals. Retailers saw gains, while GameStop and T

PCE inflation data; first-quarter GDP update; Fed representatives speaking; consumer confidence; earnings from Nvidia, Salesforce, Dell, Costco, and others.

Considering all of this, should you buy Nvidia before May 28? Nvidia is trading for 30 times forward earnings estimates, higher than it was a few weeks ago. But it's still much lower than its peak last year and this year, making it very reasonably priced today.