Analysts Overhaul Nvidia Stock Price Targets After Q2 Earnings

Nvidia shares slipped in recent trading but pared the worst of their post-earnings declines, as a host of Wall Street analysts rushed to update ratings and price targets on the AI-chip maker following its highly anticipated July-quarter update, Martin Baccardax reported for The Street.

Nvidia has suggested that current-quarter revenue would continue to improve. I Photo: Nvidia Asia Pacific Facebook

Nvidia, which holds a commanding lead in the production of chips and processors that power AI systems worldwide, posted record revenue of $30.04 billion for its fiscal second quarter and saw profit more than double from the year-earlier period to 68 cents a share.

The group also suggested that current-quarter revenue would continue to improve, albeit at a slower pace, as it forecast a top-line tally of $32.5 billion despite some delays in the shipment of its new line of Blackwell processors due to design changes and supply-chain snarls.

Nvidia said it executed a "change to the Blackwell [graphics-processing-unit] mask to improve production yield."

The Santa Clara, Calif., group added that the ramp is "scheduled to begin in the fourth quarter and continue into fiscal 2026."

On a conference call, Nvidia CEO Jensen Huang said, “We’re sampling functional samples of Blackwell, Grace Blackwell, and a variety of system configurations as we speak. There are something like 100 different types of Blackwell-based systems, and we're enabling our ecosystem to start sampling those."