Nvidia’s Upcoming Fiscal Update
Nvidia (NASDAQ: NVDA) is set to release its fiscal Q2 results on August 27, 2023. Analysts expect the company to report adjusted earnings per share (EPS) of $1.01, marking a year-over-year growth of 48.5%, alongside a projected revenue of $46 billion, which represents a 53.1% increase from the previous year’s $30 billion. Despite these strong estimates, the average price target among Wall Street analysts is only 8% higher than the current share price, indicating low expectations for immediate significant stock movement.
The company has a history of exceeding EPS estimates, having done so in the past four quarters. Analysts anticipate potential growth driven by Nvidia’s new Blackwell GPUs and increasing demand for AI infrastructure from major clients like Amazon, Microsoft, Alphabet, and Meta Platforms. As of early August, 58 out of 65 surveyed analysts rated Nvidia a “buy” or “strong buy,” reflecting a general long-term optimism despite the absence of expected short-term stock price spikes.
