Despite the climb, which easily tops its market's average, NVDA rests roughly 15% below its October 2018 highs. This could give Nvidia stock solid room to run as part of what is projected to be a return to top and bottom line growth across the semiconductor industry in 2020, after a rough 2019. Last quarter (Q3 fiscal 2020) marked the fourth straight period that the GPU giant posted declining sales and earnings. Nvidia over the last year was negatively impacted by the cyclical nature of the chip space and its own outsized success.