Nvidia gets a series of positive endorsements Monday ahead of earnings this week
Analysts across Wall Street are feeling good about Nvidia ahead of the graphic processing unit designer’s earnings report due out after Wednesday’s closing bell. Several sell-side shops pointed out that hyperscalers — which make up Nvidia’s primary customer base — have already indicated strong capex spending in their latest round of earnings. Therefore, this should bode well for Nvidia’s upcoming results. “We believe near-term AI fundamentals are strong, driven by strong hyperscale capex spending. This trend is evident in the upward revision in capex during the Q2 2025 earnings season by the cloud/ hyperscale companies, and the strong results/guidance telegraphed by other AI beneficiaries (e.g., MTSI, ALAB, AMD),” wrote JPMorgan analyst Harlan Sur. Shares of Nvidia have soared 33% in 2025, outpacing the S & P 500’s 10% gain in that time. Analyst sentiment on the stock is overwhelmingly bullish. LSEG data shows that 58 analysts covering the stock rate it a strong buy or buy, while six give it a hold and one rates it underperform. Here are some of the positive endorsements given to the company from analysts ahead of the quarterly report: JPMorgan “For Nvidia, we expect Jul-Qtr results to be slightly better than our/ consensus estimates and Oct-Qtr guidance to be in-line/slightly better than consensus (we expect $46-$47B in Jul-Qtr revenues and Oct-Qtr rev guide of $53- $54B+) driven by the GB200 shipment ramp and the start of the GB300 ramp.” Goldman Sachs “To be clear, we remain very bullish on Nvidia’s prospects for driving outsized growth in 2026, based on positive hyperscaler CapEx commentary and the prospects for non-traditional customer demand we see. However, based on our analysis of historical trading patterns, we believe it may be difficult for the stock to outperform in the next few months given a potential lack of hard data to catalyze upward estimate revisions.” Baird “Raising our revenue and EPS estimates on a significant acceleration in GB200 sell-through shipments in July and expected ongoing shipment momentum; xAI shipments will be F4Q weighted … GB300 is on track for an initial late September launch, and represents a significant performance step-up versus GB200.” Stifel “We aim to build a view into the foundation of the mosaic of NVDA’s end-customers, which in totality include CSPs (hyperscalers), neo-clouds, sovereigns, and enterprises. We highlight: (i) CSPs are continuing to point to growing overall CapEx numbers and (ii) while they point to top-line CapEx eventually moderating in the few years (not shown below), there is caveat the that inside-the-data-center assets (predominantly accelerators and networking) will continue to grow, which supports a longer-tailed growth outlook for NVDA GPU sales.” Wedbush “The pieces of the AI puzzle are forming with massive strength from the hyperscalers seen this past earnings season and use cases building across the board on the enterprise…now the biggest and most important piece in the AI puzzle is hearing from Jensen and Nvidia around demand trends especially with a green light now on the China market.”
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