Nvidia's Momentum Builds Ahead Of Q2 Results

Nvidia NVDA heads into its second-quarter earnings next Wednesday with Wall Street bracing for yet another beat. The chipmaker has shrugged off tariffs and politics before, and most analysts think this time will be no different.

Consensus pegs results at $45.94 billion in revenue and $1.01 EPS, up from $44.06 billion and $0.81 last quarter. Oppenheimer, sticking with its Outperform call and $200 target, is even more bullish, pointing to $45.8 billion this quarter and $52.8 billion next. The driver: hyperscalers are piling in, with 2025 capex expected to climb 64% to $365 billion, feeding demand for Nvidia's data center racks and AI chips.

The China story, once a headache, is less of a drag now. The U.S. lifted its ban on Nvidia's H20 chips in exchange for a 15% revenue cut, a hit analysts say the company can more than offset with higher pricing.

Wedbush upped its target to $210, citing hyperscale spend up 67% year over year last quarter. With shares already up 31% in 2025more than double the SOX and nearly quadruple the S&Pinvestors just want proof that Nvidia's AI juggernaut is still running full throttle.