NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) delivered $81.61 billion in Q1 FY2027 revenue, up 85.23% year over year, with data center sales hitting $75.25 billion, up 92%. Yet shares are only up 13.22% year to date, sitting at $211.14.

CEO Jensen Huang calls this “the largest infrastructure expansion in human history.” Can NVIDIA shares reach $400 by 2029?

Why NVIDIA Shares Are Stuck Despite Record Earnings

The disconnect is real. Even after a blowout quarter, NVDA is down 1.95% over the past week and barely positive 0.9% over the past month. Three headwinds weigh on the stock:

First, China. NVIDIA guided no Data Center compute revenue from China in Q2 FY27, versus $4.6 billion a year ago. Second, supply concerns. NVIDIA…