Market Data 
Investing.com– Analysts maintained a bullish view on NVIDIA Corporation (NASDAQ:) even after some projections from the chipmaker missed expectations, with sustained demand from artificial intelligence and a robust line of products expected to underpin earnings.
Nvidia’s shares sank as much as 8.5% in aftermarket trade, even as the firm beat expectations with its profit for the May-July quarter. The firm also announced a bumped $50 billion buyback.
But its revenue guidance for the current quarter- of around $32.5 billion- missed some estimates, as did its gross margin outlook. The forecasts also presented a slowing pace of growth from prior quarters.
Nvidia also confirmed that it was facing some difficulties with its Blackwell line of advanced AI chips, although they were still set for launch by the fourth quarter.
But despite the headwinds, analysts maintained a largely bullish stance on the stock, with some brokerages even hiking their price target on the stock.
Blackwell delay “much ado about nothing,” PT hiked- Truist
Truist Securities said that changes to Nvidia’s Blackwell line presented a negligible impact on the firm, and that its quarterly earnings reiterated the firm’s lead in AI.
The brokerage noted persistent, outsized growth in Nvidia’s key datacenter unit, and also flagged a “flurry of new products” that reflected broadening strength.
Truist hiked its PT on the stock to $148 from $145, and maintained a Buy rating on Nvidia, recommending that investors “look through the fog.” The brokerage also called the selldown in Nvidia shares unwarranted.
NVDA product story back on track, Blackwell delays in the rearview- Jefferies
Jefferies said that expectations for Nvidia’s earnings had risen sharply going into the results, and that demand for Nvidia’s current line of top-end AI chips, Hopper, remained strong.
Jefferies noted that the firm’s current-quarter guidance was good, but not good enough.
But the brokerage said that fears of significant delays in the hotly anticipated Blackwell line were now in the rearview, and that the line was still expected to add to already robust revenue from the Hopper line.
Jefferies maintained its Buy rating on the stock with a PT of $150, implying a 19% upside from current levels.
Bullish view underpinned by Blackwell expectations- Wolfe Research
Wolfe Research said that while Nvidia’s guidance did reflect a slowing pace of growth, the brokerage’s bullish view on the stock was underpinned by expectations of strong revenue growth on the eventual launch of the Blackwell line.
But the brokerage did note that a “successful and timely” launch of the new line was key to driving Nvidia’s future earnings.
Wolfe maintained an Outperform rating on Nvidia, with a PT of $150.
