Wall Street Eyes Blowout Q2 for NVIDIA (NVDA): Will Blackwell and AI Demand Deliver?

NVIDIA Corporation (NASDAQ:NVDA) is one of the AI Stocks Gaining Attention on Wall Street. On August 4, BofA Securities analyst Vivek Arya reiterated a Buy rating on the stock with a ‘$220.00 price target. The rating affirmation comes ahead of Nvidia’s earnings print on August 27th.

The firm cited projections of Nvidia’s second-quarter sales, attributing the growth to the continued ramp of Blackwell and robust cloud spend.

“Maintain Buy ahead of Aug-27 FQ2 (Jul) earnings call. Stock has had a strong run YTD so some near-term volatility is to be expected. Specifically, we see: 1) FQ2 sales beat: $47bn vs. $45.8bn consensus and $45bn guide on continued ramp of Blackwell, robust cloud spend (more below); 2) FQ3 raise: mid-teens QoQ growth to $54bn vs. $52.5bn cons as Blackwell Ultra volume ramp adds on top, with potential to reach $57-60bn if H20 shipment officially resumes;”

BofA cited several factors behind its projections for a healthy beat/raise. It does, however, note that H20 sales may face security probes by Chinese regulators and face the risk of becoming uncompetitive due to local competition. Nvidia may also need continuous license updates to ship products abd maintain performance lead.

“Overall, we see healthy beat/raise driven by a continuation of strong Blackwell/Ultra ramp, rising and diversifying AI capex (Google, Meta, Oracle, xAI, etc.), expanding pipeline and margins, as well as potential H20 resumption in F2H ($5-10bn increment).”

NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, providing high-performance GPUs and platforms that power data centers, autonomous vehicles, robotics, and cloud services.

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