Nvidia's Q2 earnings: Can Nvidia's $92B revenue test

Nvidia reports Q2 fiscal 2027 earnings after market close Wednesday, with Wall Street expecting $92 billion in revenue, nearly double year-over-year. The key question is whether a beat can still drive the stock higher given elevated expectations. Jefferies projects $95 billion in July-quarter revenue, above consensus, while Citi raised estimates by $1-1.5 billion with a $300 price target. Goldman Sachs warns shares may fall post-earnings despite strong results, citing the stock's 12% August gain and high expectations. Options pricing implies a 5.4% swing, below the 7.4% historical average. Potential risks include announced server price increases over 15% due to HBM costs, $3.1 trillion in supplier-financing commitments, and competitive threats from custom AI chips by Google, Meta, and OpenAI-Broadcom. Asian chip stocks rose ahead of the report.