Buy Nvidia Under $250 Before Policy Catalysts Hit

Nvidia at $235.74 presents an attractive entry point as two major overhangs may soon lift. President Trump's China visit could unlock H200 exports, adding pure upside to already-guided Q1 FY2027 revenue of $78 billion that assumes zero China Data Center compute sales. Potential Fed Chair Kevin Warsh's dovish AI stance further protects hyperscaler spending commitments. Bears point to a $5.47 trillion market cap, 46x trailing earnings, and surging retail euphoria as consolidation risks. However, a forward multiple of 27x, $58.5 billion in buyback authorization, and 97.6% implied probability of an earnings beat on May 20 support the bull case. The thesis breaks if Beijing holds firm or the Fed turns hawkish on AI capex.