Goldman Sachs revamps Nvidia stock forecast ahead of earnings
Nvidia shareholders are eagerly anticipating the AI-chip giant’s quarterly earnings results on February 25. The stakes are particularly high, given mounting competition from AMD and Broadcom, yet Goldman Sachs thinks Nvidia will deliver a $2 billion revenue surprise.
Analysts at the 157-year-old investment bank, regarded as one of the best on Wall Street, believe the company’s fiscal fourth-quarter revenue will come in at $67.3 billion. It also expects Nvidia to outpace estimates on the bottom line.
“We expect Nvidia to deliver a ~$2bn revenue beat in 4Q, and we stand 8% above the Street for 1Q revenue,” wrote the analysts in a research note shared with TheStreet. “Our 4Q and 1Q EPS estimates are 5% and 9% above the Street.”
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