Nvidia Corp. (NASDAQ:NVDA) is one of the most profitable tech stocks to invest in now. On August 18, TD Cowen’s Joshua Buchalter reiterated a Buy rating on Nvidia Corp. (NASDAQ:NVDA), raising his price target from $175 to $235, implying nearly 30% upside. He argued that Nvidia Corp. (NASDAQ:NVDA) is well-positioned to outperform expectations ahead of its fiscal Q2 results, scheduled for release on August 27, despite uncertainties tied to H20 chips and China-related restrictions.
Buchalter pointed to Nvidia Corp.’s (NASDAQ:NVDA) strong fundamentals and smooth transition from its Blackwell to Blackwell Ultra architectures, both of which are critical for AI and high-performance computing workloads. He also highlighted Nvidia Corp.’s (NASDAQ:NVDA) valuation relative to peers, noting that the stock trades at a discount to Broadcom despite offering what he views as a cleaner investment narrative.
Consensus expects Nvidia Corp. (NASDAQ:NVDA) to post Q2 adjusted EPS of $1.0 on $45.8 billion in revenue. Buchalter's October-quarter revenue forecast of $55 billion were ahead of street estimates, but excluded any H2O-related sales due to uncertainty surrounding the timing. He added that 2026 earnings expectations could trend closer to $7 per share, with greater clarity expected over the next couple of quarters.
Nvidia Corp. (NASDAQ:NVDA) designs and manufactures graphics processing units (GPUs), system-on-a-chip units (SoCs), and AI hardware and software.
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