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Nvidia CEO Jensen Huang speaks at Computex in Taiwan on June 2, 2024
Nvidia is set to report fourth-quarter results after the market closes Wednesday.
The chipmaker is expected to post another quarterly sales record on strong demand for its advanced chips.
Analysts are widely bullish on the AI chipmaker’s stock, with all but one of the analysts tracked by Visible Alpha issuing a «buy» or equivalent rating.
Nvidia (NVDA) is set to report fourth-quarter results after the market closes Wednesday, with analysts widely bullish on the AI chipmaker’s stock.
All but one of the 18 analysts covering the stock tracked by Visible Alpha have issued “buy” or equivalent ratings, with one analyst giving the stock a “hold” rating. Their consensus price target of about $175 would imply 30% upside from Friday’s closing price.
Wedbush and Oppenheimer analysts, who reiterated $175 price targets Thursday, suggested booming demand for the company’s advanced chips as Big Tech firms ramp up spending on AI infrastructure could lead to another strong quarter.
Nvidia is projected to post record quarterly revenue of $38.32 billion, up 73% year-over-year, according to estimates compiled by Visible Alpha. Net income is expected to climb to $21.08 billion, from $12.84 billion a year earlier.
UBS analysts, who maintained a $185 price target, noted «investor expectations having crept up a bit recently,» and added supply chain improvements could mean higher sales of Nvidia’s Blackwell line. UBS nearly doubled its estimate for Blackwell’s contribution to fourth-quarter revenue to $9 billion, up from $5 billion previously.
Oppenheimer also indicated the rapid rise of Chinese AI startup DeepSeek could ultimately prove «positive» for the chipmaker, as competition pushes Nvidia’s American clients to step up their efforts in the AI race instead of pulling back.
Nvidia shares dropped 4% to close at $134.43 Friday amid a broader market decline. They’ve gained about three-quarters of their value over the past 12 months.
UPDATE—Feb. 21, 2025: This article has been updated since it was first published to reflect more recent share price values.
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