Fundamental Analysis and the Future of Nvidia Stock at $200

Anticipated Q2 Earnings Report

The highly anticipated report on Nvidia's (NASDAQ: NVDA) Q2 earnings will be released on August 28. This report is expected to shed light on the company's performance and the speculated delay of its Blackwell GPU. Analysts from Rosenblatt maintain a positive outlook on Nvidia, keeping the price target steady at $200. They predict the company will surpass its July quarter expectations and enhance the guidance for the upcoming quarter.

Concerns Over Blackwell Delay

Despite worries regarding potential delays, Rosenblatt believes the impact on Nvidia’s overall performance will be minor, as ongoing strong demand continues to augment the company’s market strength. The upcoming introduction of the Blackwell architecture in 2025 is a critical factor that may influence performance in the longer term.

Key Constraints and Performance Outlook

• Potential delays in specific SKUs of Blackwell are anticipated.
• Rosenblatt comments that limited delays will only marginally affect Nvidia in a constrained supply environment.

Technological Advancements Driving Growth

Rosenblatt cites a mid-cycle boost for Nvidia’s Hopper platform as hyperscalers evolve towards liquid-cooled rack-scale implementations. They emphasize that new innovations, like the SpectrumX Ethernet switch within Nvidia's networking segment, could become significant growth drivers in FY25, justifying the firm’s optimistic price target for NVDA shares.

Market Performance Snapshot

Nvidia stock has delivered an impressive 156.88% return since January 1, showcasing its solid fundamentals despite short-term volatility.