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Author: 137Labs
On February 25, 2026, the global AI chip leader NVIDIA (NVDA) released its fiscal Q4 2026 (ending January 25, 2026) and full-year financial reports: revenue, profit, and data center income nearly all exceeded expectations, while the guidance for the next quarter was further upgraded. According to the traditional "performance-driven stock price" logic, such earnings reports often imply a certainty of rise.
However, the market responded with the opposite. The day after the earnings release, NVDA's stock price dropped about 5.46%, with broad statistics indicating a "single-day evaporation of approximately $260 billion in market value." The sharp divergence between strong fundamentals and weak stock price is not primarily about "earnings authenticity," but rather that the capital market's pricing weight is shifting from "current quarter profits" to "growth duration, capital expenditure slope, and structural risks."