Today is the day when Nvidia (NASDAQ:NVDA) – the AI grandaddy of them all – finally lifts the curtain and lets the market see what’s been churning over the past few months. If its recent history is any indication, Nvidia will once again blast past expectations – and there is plenty of evidence that another beat-and-raise is coming.
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The upbeat outlook is echoed across the wider AI industry, where peers have been delivering robust results. Hyperscalers, in particular, are doubling down on AI capex spending – a clear signal that demand for Nvidia’s industry-leading wares remains intact.
Against that backdrop, Nvidia has guided for $45 billion plus or minus 2% in quarterly revenue, implying a 50% year-over-year jump. Yet, few on Wall Street expect the company to merely meet expectations – the consensus is that it will once again surpass them, with revenues likely north of $46 billion.
Still, not everything is without question. Talk of an AI bubble has begun to creep into the conversation, and uncertainty over the future of China sales continues to hover. With the countdown to results in full swing, the focus now shifts to how investors should be viewing Nvidia’s setup.
For Stifel’s top analyst, Ruben Roy, the answer is fairly straightforward – all signs still point to Buy.
“We continue to view shares as attractively valued within the context of continued AI leadership positioning,” says the 5-star analyst, who ranks among the top 1% of Wall Street pros.
Roy explains that his recent supply chain checks show broad demand for Nvidia’s GB300 and strong appetite for its GB200 as well. The GB300’s specifications highlight a 50% performance boost, meaning that Nvidia’s pole position in the AI race remains safe-and-sound.
On the China front, Roy expects the reversal of the export ban to act as “an incremental tailwind” despite the 15% price markup. And looking further out, the analyst cites a report projecting $7 trillion in global AI spending over the next decade, which only strengthens the case for Nvidia’s long-term dominance.
In short, Nvidia’s AI leadership is not in doubt – and neither is Roy’s conviction. The analyst assigns NVDA with a Buy rating, while raising his price target from $202 to $212, suggesting ~17% upside. (To watch Ruben Roy’s track record, click here)
That’s pretty much where Roy’s colleagues on Wall Street find themselves as well. With 35 Buy ratings far outpacing 3 Holds and 1 Sell, NVDA boasts a Strong Buy consensus rating. Its 12-month average price target of $199.56 implies ~10% upside ahead of the print. (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.