Nvidia’s Fiscal 2028 Growth Forecast
Nvidia (NASDAQ: NVDA) projects a revenue growth of approximately 70% for fiscal 2028, indicating potential sales of $700 billion. CEO Jensen Huang attributes this conservative forecast to supply chain constraints, specifically memory shortages and component bottlenecks, rather than a lack of customer demand. Currently, Nvidia’s stock offers a return potential of 72% to 127%, depending on valuation multiples.
The company’s forecast comes amid a robust capital expenditure from major hyperscalers—Amazon, Alphabet, Microsoft, Meta Platforms, and Oracle—estimated to total around $800 billion this year, increasing to $1.3 trillion by 2027. Additionally, Nvidia’s AI cloud and industrial customer segments are experiencing rapid growth, contributing significantly to data center revenue.
Market Insights
Nvidia’s current earnings per share (EPS) is projected at $15.52 for fiscal 2028, reflecting a 67% increase from this year’s estimate of $9.31. This trajectory places Nvidia’s stock price between $388 and $512 if valuation multiples expand or remain stable, respectively. The company’s performance is poised for substantial gains as new AI applications and emerging sectors drive additional demand.
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