NVIDIA shares are declining modestly ahead of its highly anticipated fiscal Q1 FY2027 earnings report on May 20, as macro headwinds — including hot CPI data, rising Treasury yields near 4.6%, and elevated oil prices above $108/barrel amid Iran tensions — weigh on the broader semiconductor complex. Despite the pullback, Wall Street remains firmly bullish: Morgan Stanley raised its price target to $285, CFRA lifted its target to $270, Wedbush reiterated a $300 Outperform, and Cantor Fitzgerald called NVIDIA the "cheapest name" in semis on forward earnings. Analysts expect a beat-and-raise quarter with ~$79B in revenue and eyes on July guidance near $87B, while the U.S.

clearance of H200 chip sales to ~10 Chinese firms adds a fresh potential revenue catalyst. [...] NVIDIA surged over 4%, hitting a new all-time high near $236.54, as two major catalysts converged: Reuters reported the U.S. government cleared approximately 10 Chinese firms — including Alibaba, Tencent, and ByteDance — to purchase H200 AI chips, while CEO Jensen Huang joined President Trump's high-stakes Beijing summit with Xi Jinping, raising hopes for a broader thaw in U.S.-China semiconductor trade. Adding further…