Goldman Sachs, Morgan Stanley Raise Nvidia Price Targets Ahead Q2 Earnings

Ahead of Nvidia's second-quarter earnings report scheduled for August 27, Goldman Sachs has raised its price target on the semiconductor company from $185 to $200 while maintaining a buy rating, reflecting strong confidence in Nvidia's growth prospects. Analyst James Schneider highlighted three key areas to watch during the earnings call: the ramp-up of the Blackwell chip in the second half of 2025, the timeline for the Rubin chip architecture launch in 2026, and the performance of the H20 chip designed for the China market that complies with U.S. export controls. Nvidia's gross margin trends and the management of H20 chip inventory are also pivotal factors that could influence profitability and stock price movements. Despite a roughly 34% rise in Nvidia's stock price in 2025, analysts expect the company to report earnings per share of $1 and revenue of approximately $45.7 billion, with strong results needed to sustain the stock's valuation. Morgan Stanley has similarly upgraded Nvidia’s price target to $200, citing ongoing AI demand and supply bottlenecks that are expected to accelerate the company’s growth, especially with the Blackwell chip ramping in the latter half of the year. Overall, Nvidia's earnings report is highly anticipated as investors focus on its innovation pipeline and resilience in the China market amid regulatory challenges.