Wedbush Boosts Nvidia Price Target 23% Before Q2 Earnings Amid Surging AI Demand

Nvidia's AI-fueled rally gets another Wall Street endorsement as Wedbush hikes price target ahead of earnings.

The AI Gold Rush

Wedbush just slapped a 23% higher target on Nvidia—because apparently AI demand hasn't gotten the memo about economic cycles. The upgrade lands right before Q2 results, signaling analysts see more rocket fuel in the tank.

Chips Dominate Everything

Nvidia’s hardware continues eating the world as AI workloads explode. Data centers, tech giants, startups—everyone’s scrambling for GPUs. No surprise Wall Street’s nudging numbers upward again.

The Street’s Love Affair

Another day, another price target lift. Because if there’s one thing finance loves more than innovation, it’s revising forecasts after the horse has already left the barn. Earnings better deliver—or someone’s eating a humble pie.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Bryson is a five-star analyst on TipRanks, ranking #153 out of 9,986 analysts tracked. He boasts a 73% success rate and an average return per rating of 32.60%. To date, his best rating has been his “Buy” call on NVDA stock between August 16, 2019 and August 16, 2020, which generated a massive 190.70% return.   

Wedbush Sees ‘Robust’ Demand for Nvidia’s Chips

Bryson raised his earnings estimates and valuation multiples for Nvidia, as he expects the GPU giant to comfortably exceed Q2 expectations. He cited strong demand conditions and early signs of a recovery in China exports. He also noted that shipments of Nvidia’s GB300 server chips remain on schedule for late Q3 or Q4.

He emphasized that hyperscale companies are ramping up investments in AI infrastructure. This increased capital expenditure directly benefits Nvidia, given its position as one of the largest suppliers of server components. He pointed out that capital spending by hyperscalers has surged 67% year-over-year and 23% sequentially.

In addition, Bryson discussed Nvidia’s ongoing transition from Blackwell to Blackwell Ultra GPUs. While customers may adjust inventories during this shift, Nvidia has historically managed such product transitions without significant disruptions. Finally, he noted that a potential rebound in China shipments could further strengthen sales momentum during this transitional phase.

Is Nvidia Stock a Buy Before Earnings?

Wall Street remains highly optimistic about Nvidia’s long-term outlook. On TipRanks, NVDA stock has a Strong Buy consensus rating based on 35 Buys and three Hold ratings. The average Nvidia price target of $197.89 implies 13.1% upside potential from current levels. Year-to-date, NVDA stock has surged 30.3%.