Nvidia Stock Is Set for Its Worst Month in a Year. Time to Buy the Dip

There’s nothing like stock market carnage to clarify genuine investor optimism.

Nvidia stock tumbled 3% Friday, falling along with other chipmakers as the wider tech sector sold off.

Chip stocks have had a rough go amid worries over debt and the sustainability of artificial-intelligence spending. The latest declines were triggered by earnings from Amazon.com and Intel, both of which spooked investors over cash flow concerns.

For Nvidia investors, this might be the time to buy the dip. Nvidia stock is trading at its lowest levels since early August and, if early action on Friday is anything to go by, is set to close out October with a decline of more than 9%. That would mark the worst month since November 2025, when it fell 12.6%. Nvidia stock is on track for its worst performance in the first 10 months of a year since 2022, up just 11% in 2026 so far.

The fact remains that, if investors liked Nvidia a month ago, they should still like it today. Wall Street certainly agrees. Despite its drop over the last month, 96% of analysts surveyed by FactSet rated Nvidia stock a Buy, with an average target price of $334, which implies the shares could climb more than 60% from their current level.

Barron’s has previously reported that the chip stock chaos is likely to, above all else, sort the winners from the losers. No matter the pinch Nvidia stock has felt in recent weeks—and no matter that debt and AI spending are significant considerations—the chipmaker remains at the top of the AI game.