Nvidia stock jumps 7% on rare multi-year growth forecast after four straight post-earnings slumps

Nvidia shares rose about 7% in premarket trading Thursday after the company issued a rare multi-year growth forecast, breaking a pattern of four consecutive post-earnings declines. The chipmaker projected 70% revenue growth for fiscal year 2028, far exceeding the 45% analysts expected, and said demand outpaces supply. Data center revenue hit $89 billion, up 117% year-over-year, with gross margins at 75%. At least 10 brokerages raised price targets following the guidance. Nvidia trades at roughly 17.9 times projected earnings, below peers AMD and Intel, potentially making the stock more attractive.