Chip stocks Nvidia (NVDA) and Marvell Technology (MRVL) are scheduled to announce their fiscal second-quarter earnings this week. Ahead of the results, Wall Street is bullish on both semiconductor companies and expects them to benefit from artificial intelligence (AI)-led demand for their products. Let’s delve deeper into the expectations for Q2 earnings of these two chip companies.
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Wall Street’s Expectations for Nvidia’s Q2 Earnings
Nvidia is scheduled to announce its results for the second quarter of Fiscal 2026 on August 27. Wall Street expects NVDA to report a 48% year-over-year growth in Q2 FY26 EPS to $1.01 and about a 53% surge in revenue to $45.9 billion.
Despite the ongoing uncertainties related to H20 chip sales to China, analysts remain bullish on Nvidia stock due to solid demand for its AI graphics processing units (GPUs). In fact, several top analysts have raised their price targets for NVDA stock, reflecting confidence in its growth potential.
For instance, Wedbush analyst Matt Bryson boosted his price target for Nvidia stock to $210 from $175 and reiterated a Buy rating. The 5-star analyst noted that hyperscale spending results for the second quarter “were ubiquitously positive.” Moreover, conversations throughout the quarter indicated solid demand for Nvidia’s chips, with supply at times appearing to be lagging demand. Additionally, Wedbush’s checks suggest that NVDA’s GB300 server shipments appear on track for late Q3 or Q4. Bryson increased his earnings estimates and the stock’s multiple to reflect robust demand trends and some rebound in China sales.
Is NVDA Stock a Strong Buy?
Overall, Nvidia stock scores a Strong Buy consensus rating based on 35 Buys, three Holds, and one Sell recommendation. The average NVDA stock price target of $198.57 indicates 11.6% upside potential from current levels. Nvidia stock has risen more than 32% year-to-date.
Here’s What Analysts Expect from Marvell’s Q2 Earnings
Marvell Technology is set to announce its results for the second quarter of Fiscal 2026 on August 28. Wall Street expects Marvell to report earnings per share (EPS) of $0.67 for Q2 FY26, reflecting a 123% year-over-year growth. Furthermore, analysts estimate a 58% jump in revenue to $2.01 billion.
Marvell is expected to gain from the strong demand for its custom AI chips needed to power data centers. Despite optimism about AI-led demand, Marvell stock is down about 34% year-to-date due to tariff-related uncertainties and the impact of U.S.-China trade tensions.
Heading into Q2 FY26 results, Susquehanna analyst Christopher Rolland reiterated a Buy rating on Marvell stock with a price target of $90. The 5-star analyst expects the company to report in-line results. Rolland stated that for the company’s data center business, AI demand continues to be backed by solid capital spending plans of hyperscalers. However, Rolland cautioned about near-term margin pressure as the custom silicon ramp will be dilutive to Marvell’s gross margins.
What Is the Forecast for Marvell Stock?
Overall, Wall Street has a Strong Buy consensus rating on Marvell Technology stock based on 26 Buys and eight Holds. The average MRVL stock price target of $90.63 indicates 24.2% upside potential from current levels.
