NVIDIA Demand at Full Steam: Bernstein Analyst Bullish Ahead of Q3 Earnings
NVIDIA's rocketship keeps climbing—Bernstein's top analyst confirms demand shows zero signs of cooling ahead of Q3 earnings.
The AI Engine That Couldn't
While traditional chip stocks wobble, NVIDIA's data center business keeps eating market share like a crypto miner during a bull run. The Bernstein team sees no slowdown in sight—just more institutions piling into what's becoming the de facto AI infrastructure play.
Earnings Preview: More Green Than a Bitcoin Chart
Gaming revenue? Solid. Data center growth? Explosive. Automotive and professional visualization? The cherry on top. NVIDIA's diversified moat makes legacy semiconductor companies look like they're still mining with GPUs.
Here's the real trade: institutions treating NVIDIA like digital gold while retail chases the next meme coin. The stock's become the blue-chip crypto—volatile enough for excitement, fundamental enough for your financial advisor to actually approve.
Another quarter, another beat incoming. Because when the AI revolution needs horsepower, there's only one stablecoin everyone trusts.
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Overall, Wall Street expects Nvidia to post earnings of $1.26 per share for Q3 FY26, up 55% from the same quarter last year. Analysts also forecast $54.8 billion in revenue, representing a year-over-year jump of more than 56%.
Bernstein Stays Bullish on NVDA
Ahead of the Q3 release, Rasgon from Bernstein joined CNBC’s ‘Money Movers’ to break down his expectations for Nvidia. Rasgon said Nvidia’s recent GTC announcements were highly encouraging. In October, CEO Jensen Huang revealed more than $500 billion in orders for the company’s new Blackwell and Rubin AI chips, along with several major partnerships at the GTC conference in Washington, D.C. He also pointed out that Huang suggested next year’s forecasts are still far too low, further strengthening the bullish outlook for Nvidia.
While Rasgon acknowledged the broader market nervousness ahead of Nvidia’s earnings, he said this is mostly because the company’s numbers have become so massive, growing so quickly, that investors are now questioning how sustainable the momentum is.
Even so, Rasgon emphasized that while there could eventually be a slowdown or a brief “air pocket,” it’s not coming this year or next. Given the trajectory of AI spending, he believes Nvidia’s demand remains “full steam ahead.”
Rasgon Shrugs Off Competition Worries
Rasgon isn’t concerned about rising competition in the semiconductor space. He remains confident in Nvidia, noting that the company continues to invest aggressively and hit its targets, while most rivals are still trying to catch up.
He also emphasized that the AI market is enormous, leaving plenty of room for other players like Broadcom (AVGO), AMD (AMD), and more to grow alongside Nvidia.
Bernstein has a Buy rating on NVDA stock with a price target of $225, implying an upside of 24% from the current level.
Is Nvidia a Buy or Sell Stock?
According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 37 Buys, one Hold, and one Sell assigned in the last three months. At $243.09, the Nvidia average share price target implies a 34% upside potential.
