Nvidia (NASDAQ:NVDA) investors have had August 27 circled on their calendars for weeks, anxiously awaiting the AI chip giant’s Q2 FY 2026 financial results. At this stage, numerous signs point to yet another earnings beat for Nvidia, which has consistently outperformed both its own guidance and market projections over the past few quarters.
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With revenues expected to reach almost $46 billion – a 50% jump from last year – analysts’ optimism is underpinned by robust earnings across the AI landscape. Hyperscalers and fellow AI players have reported strong results and accelerating demand, marking a welcome reversal from the first part of the year.
This shift in sentiment has been mirrored in Nvidia’s stock performance. Since reaching an early April low point, NVDA has surged by ~90%.
Analysts are echoing that conviction. Reading the tea leaves around the growing demand as well as some positive regulatory developments, Wedbush top analyst, Matt Bryson, remains bullish regarding NVDA’s trajectory.
“We continue to believe growth in announced hyperscale spend is largely going to build out AI capabilities and in particular ends up flowing to NVDA which supplies a disproportionate amount of the AI server value,” notes the 5-star analyst, who ranks among the top 2% of Wall Street pros.
Beyond hyperscaler spending, Bryson also points to another potential tailwind – recent U.S. government decisions that are once again opening up the China market for Nvidia. While the analyst cautions that Beijing may pressure domestic firms to turn to local chipmakers, he nonetheless expects “at least some rebound in China related revenues.”
The bullish case doesn’t stop there. Across the globe, major initiatives – spearheaded by both governments and private enterprises – are ramping up investments in AI infrastructure. From the U.S. and Europe to Asia and the Middle East, these projects could drive significant incremental demand for Nvidia’s chips, even if some are never fully realized.
“We would still expect these efforts will provide a significant boost to AI capex over the next few years,” Bryson adds.
Bryson backs up his bullish view on NVDA with an Outperform (i.e., Buy) rating and has boosted his price target to $210, implying an 18% upside from current levels. (To watch Matt Bryson’s track record, click here)
That bullish outlook is broadly reflected across Wall Street. With 35 Buys far outweighing 3 Holds and a single Sell, NVDA holds a Strong Buy consensus rating. Its 12-month average price target of $198.97 suggests an upside of ~12% from here. (See NVDA stock forecast)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.