Shares of NVIDIA, Amazon, and Meta trade below recent highs despite double-digit revenue growth and heavy AI infrastructure investments.
NVIDIA (NVDA) trades at $199.45, 27% below its 52-week high of $236.26, despite reporting Q1 FY27 revenue of $81.61 billion, an 85% year-over-year increase. Amazon’s AWS unit posted its fastest growth in 15 quarters, while Meta’s revenue rose 33%, yet its shares remain 15% off recent peaks.
Morningstar estimates Meta’s fair value at $850, suggesting a 31% undervaluation. Amazon projects $200 billion in 2026 capital expenditures, compressing free cash flow by 95% as all three companies bet on long-term AI infrastructure returns. Goldman Sachs frames 2026 as a pivotal year for AI capex, with these stocks leveraged to the trend.
The pullbacks present entry points for long-term investors, with fundamentals remaining strong despite near-term market volatility.