Nvidia Stock Expected to Rise Further in September Following Strong Earnings
Following its fiscal second-quarter results released on August 26, Nvidia (NVDA) saw a nearly 9% jump in stock price. The company reported revenue of $96.2 billion and non-GAAP earnings per share of $2.22, both exceeding analyst expectations. With guidance for continued strong growth into fiscal 2028—despite supply constraints—the market has been surprised by the optimism from Nvidia's leadership. Nvidia’s CFO expects a roughly 70% revenue increase in fiscal 2028, significantly higher than analysts' previous forecast of 44%. The company is also benefiting from aggressive capital spending at its foundry partner TSMC and strong AI infrastructure demand. Analysts are revising their estimates upward as they begin to catch up with the potential for sustained growth. The stock currently trades at a relatively attractive valuation compared to broader tech indices, which could support further gains in September.
Tickers: $NVDA