Wall Street analysts are still bullish on Nvidia heading into Q3 earnings, even as investors turn skittish (www.businessinsider.com)

Nvidia will report Q3 results after the market close on Nov. 18, and the print is being framed as a make-or-break moment for the broader AI trade. Investors have grown skittish—Nvidia is still up ~37% YTD but slid ~5% in the past week—and high-profile sellers (SoftBank, Thiel Macro) plus a short from Michael Burry have amplified concerns about whether premium valuations for AI leaders are justified. Key investor questions include GPU demand, returns on AI capex, customer concentration and whether macro headwinds will blunt near-term growth. Wall Street analysts remain largely bullish and expect Nvidia to show roughly $55B revenue and $1.25 EPS for Q3, with data-center revenue near $49B. Firms from BofA to UBS, DA Davidson and CFRA cite continued dominance in AI hardware, upcoming Blackwell/Blackwell Ultra and Vera Rubin products, and management’s claim of ~$500B in booked orders as reasons to stay long; analyst price targets range from $230–$275. UBS forecasts gross margins ~73.5% in Q3, and BofA highlights attractive forward PE/PEG ratios versus expected ~40% EPS growth through 2026–27. For the AI/ML community, the report will signal how quickly expensive GPU infrastructure is being deployed and whether the narrative of structural, multi-year demand for training/inference accelerators remains intact.