Nvidia’s 174.40 Euro Level Becomes the Line in the Sand as Broadcom Contagion and Political Headwinds Hit

A perfectly respectable week of product announcements and a revenue record wasn’t enough to shield Nvidia from the shockwave that ripped through the chip sector on Friday. The stock closed at 178.08 euros, shedding 5.42% in a single session, as a disappointing outlook from peer Broadcom triggered a broad selloff that spared almost no one. The weekly loss stands at 1.85%, but the real story lies in how close the shares are now to their first critical technical defence.

That defence sits at 174.40 euros—the 50-day moving average. Nvidia’s close on Friday leaves a buffer of just over 2%, a razor-thin margin after weeks of sideways drift. The 100-day average at 165.70 euros and the 200-day at 161.46 euros offer fallback lines, but a break below the 50-day would signal that the correction has teeth. The 52-week high of 202.50 euros, set back in May, now looks a distant twelve percent away, while the low of 122.42 euros is roughly 45% below current prices—a reminder that the long-term uptrend remains intact unless proven otherwise.

The selloff was sparked by Broadcom, whose cautious revenue guidance for its networking and custom-chip businesses wiped billions from the sector’s market cap. But Nvidia carried its own set of headwinds into Friday’s close. Senator Elizabeth Warren has invited CEO Jensen Huang to testify before the Senate Banking Committee on the company’s China sales and US export controls, adding a layer of political uncertainty that analysts say could weigh on sentiment until more clarity emerges.

None of this, however, changes the fundamental momentum underneath. Nvidia reported record revenue of $81.6 billion in the first quarter of fiscal 2027, driven by a 92% surge in data-center sales. The current quarter is guided at roughly $91 billion. During a visit to Seoul this week, Huang publicly confirmed that all three major memory suppliers have been certified to supply HBM4 chips for the upcoming Vera-Rubin platform, putting to rest months of supply-chain speculation. On the product front, Nvidia unveiled RTX Spark—developed with Microsoft—to bring personal AI agents to Windows PCs, and reiterated that the Vera CPU and Vera-Rubin platform are in production.

Should investors sell immediately? Or is it worth buying Nvidia?

Despite the day’s rout, analysts remain broadly bullish. China Renaissance initiated coverage with a buy rating and a $319 price target, while the consensus on Wall Street sits at 256.04 euros, implying roughly 44% upside from Friday’s close. The average rating across the 46 analysts covering the stock is a clear buy.

Technically, the picture is more nuanced. The relative strength index at 45.2 sits in neutral territory—no panic selling yet, but no oversold signal either. The annualized 30-day volatility of 43.58% means larger swings are now part of the script. The 50-day moving average at 174.40 euros will be the pivot point in the coming days. A clean hold there would likely end the pullback and allow the market to refocus on Nvidia’s product pipeline and the HBM4 ramp. A decisive break, however, would shift attention to the 165-euro zone and raise the stakes for the next catalyst.

The next such catalyst may come from the sector itself. Both Micron’s quarterly report and Qualcomm’s investor day fall on June 24, and Nvidia will be watching how those events shape the broader semiconductor narrative. For now, the stock is caught between a strong fundamental story and a technical stress test that will determine whether the correction is a buying opportunity or the start of a deeper reassessment.