Wedbush keeps Nvidia outperform rating ahead of earnings

Wedbush reiterated its 'outperform' rating and $330 price target for Nvidia ahead of the AI chip maker's quarterly results, expecting the company to beat its own guidance. The broker forecasts Nvidia will exceed expectations and announce October targets above market consensus, citing increased investment willingness from hyperscalers during the second-quarter earnings season. Wedbush also highlighted Nvidia's supply position as the best in a sector where component access, not end demand, determines deliveries. Wedbush questions whether strong results will trigger a stock reaction, noting shares have remained flat since October despite three consecutive beats. The broker estimates second-quarter earnings per share of $2.05 and revenue of $91 billion, below consensus of $2.09 and $92 billion, but expects Nvidia to surpass these figures.