AI giant Nvidia (NVDA) is set to report its Q2 FY26 earnings on Wednesday, August 27, after the market closes. The stock has climbed more than 30% year-to-date, fueled by soaring demand for AI-capable chips and data center servers. Nvidia’s Blackwell GPUs, in particular, have seen strong uptake from hyperscalers and enterprise customers building out AI infrastructure.
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Though uncertainties around China remain, Nvidia has introduced new chip variants tailored for that market, ensuring it can still capture demand despite trade restrictions. Overall, Wall Street remains optimistic about the stock ahead of Q2 earnings. The Street sees room for further gains, with an average price target implying about 13% upside from current levels.
What to Expect from Nvidia’s Q2 Earnings
Wall Street analysts expect Nvidia to report earnings of $1.00 per share for the second quarter of Fiscal 2026, up 47% from the year-ago quarter. Meanwhile, analysts project Q2 revenues of nearly $46 billion, according to the TipRanks Analyst Forecasts Page. This marks a year-over-year increase of over 53%.
Investors will be watching closely for updated guidance on data center growth, supply outlook, and China sales when results are announced.
Top Analysts’ Views on Nvidia Ahead of Earnings
Ahead of the print, UBS analyst Timothy Arcuri lifted his price target on Nvidia to $205 from $175 while reaffirming his Buy rating. The 5-star analyst said demand trends remain very strong and that he expects Nvidia’s revenues to come in roughly $1 billion above current estimates. For Q3, he projects revenue of $54–55 billion excluding China, and up to $57 billion if China is included.
Addressing China, Arcuri pointed out that Nvidia may be able to reuse some of its H20 inventory that had been written down. He also noted that the company has placed new Hopper wafer orders following the recent H20 license approval. Looking ahead, Arcuri believes Nvidia is developing a Blackwell variant for the Chinese market, anticipating that U.S. export rules could be eased as part of ongoing trade negotiations.
Similarly, Morgan Stanley’s Top analyst Joseph Moore reaffirmed his Buy rating on Nvidia stock and increased the price target to $206 from $200 per share. Moore said Nvidia’s outlook for 2026 “looks very strong” due to rising demand, improved supply, and a solid competitive position. The 5-star analyst expects Nvidia’s revenue for July to reach $46.6 billion, up from his previous estimate of $45.2 billion, and October revenue to hit $52.5 billion versus $51.3 billion earlier.
Is NVDA a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 33 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NVDA price target of $198.31 per share implies 13.33% upside potential.
