History Says Nvidia Stock Does This in November. Here's the 1 Thing That Could Break the Pattern.

Nvidia has historically posted an average 13% gain in November this decade, but the pattern shows deterioration in recent years. The key factor that could break this positive trend is slower cloud growth from major hyperscalers (Alphabet, Microsoft, Amazon, Meta, Oracle), which collectively contribute $49 billion to Nvidia's $89 billion data center revenue. Investors should closely monitor Q3 earnings from these hyperscalers, as any slowdown in cloud capex spending could negatively impact Nvidia's business and market sentiment.