Nvidia Corporation (NVDA, Financial) set to release its Q3 numbers on November 20, is in the spotlight again, as analysts anticipate an earnings beat driven by its market-leading, AI-focused data center chips. Recently, Mizuho analysts raised their price target for Nvidia from $140 to $165, expressing optimism about the company's stronghold in the AI and data center segments. Analysts believe this position will secure demand for Nvidia's GPUs despite ongoing supply chain pressures. Currently, Nvidia commands over 95% of the AI accelerator market, leveraging this strategic advantage by supplying GPUs specifically tailored for AI applications.
Earnings per share (EPS) remain positively aligned with revenue expectations, as analysts project Nvidia's annual revenue growth to reach about $33.07 billion this quarter, marking an 82% increase year-over-year. Products such as the H100 and the upcoming Blackwell series have proven essential for data-intensive industries like cloud computing and generative AI, supporting Nvidia's nearly threefold stock price surge in 2024, which has elevated the company's valuation to almost $1.5 trillion.
While Nvidia has established a significant presence in the Chinese market, recent U.S. export restrictions pose challenges. However, the company remains a prominent player in the AI hardware space, and its forthcoming earnings report is expected to reaffirm Nvidia's promising position within an AI-centric economy.
