Nvidia (NVDA) is set to report its fiscal third-quarter results after the close of trading tomorrow, but investment firm BNP Paribas believes the commentary surrounding 2026 will be of utmost importance.
“Following NVDA GTC commentary of 10m Blackwell GPU chips shipping through CY26, implying 7m units in CY26, the market is now focussed and discounting this 7m number,” BNP Paribas analyst David O’Connor wrote in a note to clients. “On results, investors are looking for any additional color [the company] can provide to this number, which is a tall order as typically NVDA do not give 12 month visibility. The other areas where NVDA can reassure investors is commentary related to AI datacenter capex, monetization and power availability, all of which are among the main concerns for investors.”
O’Connor raised his price target on Nvidia to $250 from $240 and reiterated his Outperform rating.
A consensus of analysts expect the company to earn $1.25 per share on $55B in revenue for the fiscal third-quarter.
