Nvidia (NASDAQ:NVDA) recorded its third straight weekly drop this week after the semiconductor giant’s Q2 results for fiscal 2026 fell short of Wall Street’s lofty expectations on Wednesday, prompting several Seeking Alpha analysts to revisit their narratives on the company.
While the Jensen Huang-led company’s quarterly financials and outlook for Q3 did beat the consensus, its data center revenue, a key component of its topline, missed the analysts’ forecasts amid uncertainties over its China business.
With the above concerns overshadowing what was otherwise a promising earnings report, several SA analysts continued to defend Nvidia (NASDAQ:NVDA) while others turned even more bearish.
The Bulls
“The initial post-market reaction is negative, but we believe this is a buy-the-dip opportunity,” wrote analyst Bashar Issa in Nvidia: Why This Post-Earnings Dip Is A Buying Opportunity (Rating Upgrade). “We see no signs of slowing demand either in Q2 2026 results or future projections, including the company’s Q3 2026 earnings projections, which also beat expectations.”
“Despite a double beat and guidance that came in above consensus, the market priced Nvidia for perfection, and the stock slipped on Q2 ’26 results,” added The Techie in The AI Race Is On, And Nvidia Is A Clear Leader (Rating Upgrade). “China uncertainty is a near-term overhang, but long-term opportunities in the $50B+ market remain intact.”
“Concerns about China are overblown; NVDA management signals H20 shipments could resume in Q3, and other growth levers like sovereign AI remain robust,” noted Vinay Utham in Nvidia: The China Obsession Has Gone Too Far (Rating Upgrade). “From a valuation perspective, the stock continues to have strong momentum despite the post-earnings slide and based on my analysis, the stock has considerable upside from current levels.”
“Nvidia Corporation remains a crucial long-term equity holding, driven by its dominance in AI infrastructure and expanding application opportunities,” opined Rogerio Adelino in The 2 Key Takeaways From The Nvidia Q2 Earnings Report. “Strong cash flow, premium margins, and a price target of $210–$220 justify maintaining or increasing long positions in NVDA, especially post-earnings volatility.”
The Bears
“Nvidia Corporation’s Data Center revenue growth is slowing sharply, growing at only 5% over the last quarter,” wrote Damir Tokic in Game Over For Nvidia And The AI Theme (Rating Downgrade). “At the same time, NVDA stock is trading at high valuation multiples, not justified by the slowing growth.”
“Since China’s pivot towards AI tech self-sufficiency is structural, it’s poised to dim Nvidia’s long-term prospects in the key growth market,” noted Livy Investment Research in Nvidia Q2 2026 Earnings: The Achilles’ Heel That Confirmed Our Flip To Short. “Nvidia faces limited respite to compensate for looming China growth headwinds, making NVDA stock vulnerable to an imminent downward correction.”