You know that friend who always seems to nail everything they try? That’s basically Nvidia right now, and Wall Street analysts are falling over themselves like teenagers at a concert.
The chip giant just dropped their Q3 earnings, and let’s just say they didn’t disappoint. We’re talking $57 billion in revenue (up 62% from last year) and guidance for next quarter that had analysts doing actual happy dances at their desks. They predicted around $61 billion for the next quarter, but Nvidia was like “hold my energy drink” and said they’re expecting $65 billion instead.
CEO Jensen Huang also took a moment to basically tell everyone freaking out about an “AI bubble” to chill out. His message? This isn’t a bubble, this is just getting started. And honestly, when you’re running the most expensive company in the world by market cap, people tend to listen.
The Price Target Parade
Now here’s where it gets fun. Analysts are bumping up their price targets faster than you can say “artificial intelligence.” It’s like watching a bidding war, but with spreadsheets.
Morningstar jumped from $225 to $240, basically saying “yeah, we underestimated them again.” They’re calling recent AI bubble chatter a “buying opportunity,” which is analyst-speak for “everyone else is being dramatic.”
Jefferies went from $240 to $250, but here’s the kicker – they think it could hit $300 if Nvidia keeps dominating the data center game. Their reasoning? Industry checks suggest more wins are coming as their new Blackwell chips ramp up. Translation: the money printer goes brrrr.
Truist raised their target to $255, and they had the best reasoning: Jensen Huang’s bubble comments are “increasingly believable.” They pointed out that Nvidia’s six-year-old A100 chips are still running at 100% utilization. If that’s not proof we’re not in a bubble, what is?
But the real winner? Melius Research went full send with a $320 target (up from $300). They’re basically saying this is the “greatest paradigm shift of my lifetime” and that Nvidia has over $500 billion in orders lined up. That’s not just confidence, that’s “I’m buying a yacht” confidence.
The Bottom Line
Here’s what’s actually happening: Nvidia isn’t just riding the AI wave, they’re basically the surfboard everyone else is trying to balance on. While everyone debates whether AI is overhyped, Nvidia is quietly collecting checks and building the infrastructure that makes all this possible.
The company is looking at potential 73% upside according to some analysts, and honestly? At this point, betting against Jensen Huang feels like betting against gravity. The man has turned selling computer chips into an art form.
So while everyone else argues about bubbles and valuations, Nvidia is just out here making it rain. And Wall Street? They’re standing in the downpour with their umbrellas turned upside down, trying to catch every drop.