Nvidia (NVDA) stock is drawing attention as analysts reaffirm their upbeat outlook before the company reports Q3 earnings today. Notably, five-star-rated analyst Stacy Rasgon at Bernstein says Nvidia’s demand remains strong and shows no signs of slowing as the chipmaker heads into its highly anticipated results. The firm believes Nvidia’s momentum is intact despite recent market jitters on the AI bubble, keeping expectations high for another solid quarter.
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Overall, Wall Street expects Nvidia to post earnings of $1.26 per share for Q3 FY26, up 55% from the same quarter last year. Analysts also forecast $54.8 billion in revenue, representing a year-over-year jump of more than 56%.
Bernstein Stays Bullish on NVDA
Ahead of the Q3 release, Rasgon from Bernstein joined CNBC’s ‘Money Movers’ to break down his expectations for Nvidia. He said Nvidia’s recent GTC announcements were highly encouraging. In October, CEO Jensen Huang revealed more than $500 billion in orders for the company’s new Blackwell and Rubin AI chips, along with several major partnerships at the GTC conference in Washington, D.C. Rasgon also pointed out that Huang suggested next year’s forecasts are still far too low, further strengthening the bullish outlook for Nvidia.
While Rasgon acknowledged the broader market nervousness ahead of Nvidia’s earnings, he said this is mostly because the company’s numbers have become so massive, growing so quickly, that investors are now questioning how sustainable the momentum is.
Even so, Rasgon emphasized that while there could eventually be a slowdown or a brief “air pocket,” it’s not coming this year or next. Given the trajectory of AI spending, he believes Nvidia’s demand remains “full steam ahead.”
Rasgon Shrugs Off Competition Worries
Rasgon isn’t concerned about rising competition in the semiconductor space. He remains confident in Nvidia, noting that the company continues to invest aggressively and hit its targets, while most rivals are still trying to catch up.
He also emphasized that the AI market is enormous, leaving plenty of room for other players like Broadcom (AVGO), AMD (AMD), and more to grow alongside Nvidia.
Bernstein has a Buy rating on NVDA stock with a price target of $225, implying an upside of 24% from the current level.
Is Nvidia a Buy or Sell Stock?
According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 37 Buys, one Hold, and one Sell assigned in the last three months. At $243.09, the Nvidia average share price target implies a 34% upside potential.
