Nvidia Earnings Preview: NVDA makes new all-time high in anticipation of Wednesday earnings results


  • Nvidia traded above $481 on Tuesday, up 20% in a little over a week.
  • NVDA has broken the $480.88 all-time high from July 14.
  • Nvidia CEO Jensen Huang will unveil Q2 earnings after market close on Wednesday.
  • Q2 revenue is expected to jump 65% YoY due to heavy demand for AI-focused chips. 

  •  

Nvidia (NVDA), the leading global designer of GPUs and chips specifically used in generative AI systems, has seen its share price break to a new all-time high on Tuesday. The market is anticipating a significant beat-and-raise announcement at Wednesday’s post-market earnings call. 

The NASDAQ Composite has gained significantly as well, up 0.7% at the open, while NVDA stock initially traded above $481 a share before edging lower. The previous all-time high from July 14 was $480.88.

Nvidia stock earnings

You can’t really blame the retail crowd for this one. Nvidia is being helped along by extremely bullish price target revisions from some of the leading lights on Wall Street.

On Monday, HSBC analyst Franke Lee raised his price target on NVDA stock from $600 to $780. Lee’s view is that there is plenty of likelihood that the earnings outlook for next year will rise substantially from here, giving Nvidia a much lower forward price multiple. Nvidia’s rally this spring began when management hiked its outlook on Q2 revenues by $4 billion, so there is some precedent to that idea.

KeyBanc analyst John Vinh also raised his price target to $620, writing that Nvidia has a near monopoly on chips used for AI capabilities and that its CUDA software platform has given it a particularly competitive perch.

The average price target on Wall Street is $487.56. Twenty-four analysts have given Nvidia stock a Buy rating, six give it a Strong Buy, and only three have given it a Hold rating.

All 33 Wall Street analysts covering Nvidia have revised their Q2 earnings forecast higher over the past quarter. The consensus for adjusted earnings per share (EPS) is now $2.09. The sales consensus for the quarter is $11.07 billion, slightly higher than Nvidia’s surprising outlook for $11 billion during the Q1 earnings call back in May.

Despite already trading up more than 200% year to date, excitement for this chip designer keeps growing. Demand for its leading-edge chips used in large artificial intelligence platforms and systems has raised the hype behind the share price. At least four mega-cap Chinese firms have each stockpiled more than $1 billion worth of Nvidia chips this year, and it was recently reported that Saudi Arabia and Dubai also had state firms that were stockpiling Nvidia’s H100 and A100 chips for their own AI-related endeavors. 

Nvidia FAQs

What is Nvidia known for?

Nvidia is the leading fabless designer of graphics processing units or GPUs. These sophisticated devices allow computers to better process graphics for display interfaces by accelerating computer memory and RAM. This is especially true in the world of video games, where Nvidia graphics cards became a mainstay of the industry. Additionally, Nvidia is well-known as the creator of its CUDA API that allows developers to create software for a number of industries using its parallel computing platform. Nvidia chips are leading products in the data center, supercomputing and artificial intelligence industries. The company is also viewed as one of the inventors of the system-on-a-chip design.

What is the history of Nvidia?

Current CEO Jensen Huang founded Nvidia with Chris Malachowsky and Curtis Priem in 1993. All three founders were semiconductor engineers, who had previously worked at AMD, Sun Microsystems, IBM and Hewlett-Packard. The team set out to build more proficient GPUs than currently existed in the market and largely succeeded by late 1990s. The company was founded with $40,000 but secured $20 million in funding from Sequoia Capital venture fund early on. Nvidia went public in 1999 under the ticker NVDA. Nvidia became a leading designer of chips to the data center, PC, automotive and mobile markets through its close relationship with Taiwan Semiconductor.

What is Nvidia’s relationship to artificial intelligence?

In 2022, Nvidia released its ninth-generation data center GPU called the H100. This GPU is specifically designed with the needs of artificial intelligence applications in mind. For instance, OpenAI’s ChatGPT and GPT-4 large language models (LLMs) rely on the H100’s high efficiency in parallel processing to execute a high number of commands quickly. The chip is said to speed up networks by six times Nvidia’s previous A100 chip and is based on the new Hopper architecture. The H100 chip contains 80 billion transistors. Nvidia’s market cap reached $1 trillion in May 2023 largely on the promise of its H100 chip becoming the “picks and shovels” of the coming AI revolution.

Why does Jensen Huang have a cult following?

Long-time CEO Jense Huang has a cult following in Silicon Valley and on Wall Street due to his strict loyalty and determination to build Nvidia into one of the world’s leading companies. Nvidia neary fell apart on several occasions, but each time Huang bet everything on a new technology that turned out to be the ticket to the company’s success. Huang is seen as a visionary in Silicon Valley, and his company is at the forefront of most major breakthroughs in computer processing. Huang is known for his enthusiastic keynote addresses at annual Nvidia GTC conferences, as well as his love of black leather jackets and Denny’s, the fast food chain where the company was founded.

Nvidia stock forecast

Nvidia stock did calm down somewhat following the open, but expect it to overtake the July 14 high once again. Bulls are chomping at the bit, and the recent price action demonstrates that the market expects a major beat.

Support sits at $420, $400 and the $373 to $378 demand zone from June. The Relative Strength Index (RSI) reading near 60 demonstrates that NVDA is far from overbought, even at this elevated price level. A major beat late Wednesday could easily lead NVDA into the $500s.

NVDA daily chart

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

Bitcoin sits at new record highs above $122,000

Bitcoin sits at new record highs above $122,000

Bitcoin breaks above the key milestone level on Monday, setting a new all-time high above $122,000, with no signs of slowing. The technical outlook supports further gains as momentum indicators remain robust and price action firmly in price discovery mode, with the next potential target above $130,000.

EUR/USD keeps the red below 1.1700 amid US-EU trade tensions

EUR/USD keeps the red below 1.1700 amid US-EU trade tensions

EUR/USD remains in the red below 1.1700 in the European session on Monday. The Euro underperforms against the US Dollar, in the wake of rising risks of a US-EU trade war, especially after US President Trump threatened 30% tariffs on the EU from August 1. EU says its ready with retaliatory tariffs. 

Gold price flirts with multi-week top as safe-haven buying offsets modest USD strength

Gold price flirts with multi-week top as safe-haven buying offsets modest USD strength

Gold price trades with a positive bias for the fourth straight day and hovers near a three-week high during the European session on Monday. Traders might refrain from placing aggressive directional bets and opt to wait for US inflation figures. Meanwhile, trade war fears continue underpinning the bright metal. 

GBP/USD holds losses below 1.3500; vulnerable near multi-week low

GBP/USD holds losses below 1.3500; vulnerable near multi-week low

GBP/USD enters a bearish consolidation phase in European trading on Monday, holding losses below the 1.3500 mark. Looming trade concerns dent risk sentiment and boost the haven dmeand for the US Dollar at the expense of the higher-yieding Pound Sterling. 

Meme coins to watch as Bitcoin hits record high

Meme coins to watch as Bitcoin hits record high

Meme coins Bonk, Dogwifhat, and Floki are positioned to extend gains as the weekly recovery reaches crucial resistance levels. The meme coins gain bullish momentum on the back of Bitcoin’s (BTC) recovery run, hitting a new all-time high on Thursday. 

Best Brokers for EUR/USD Trading

Best Brokers for EUR/USD Trading

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025