NVDA Stock 2026

NVDA at a glance

Prices move every trading day. Check a live quote before acting on any figure above.

What Nvidia actually sells

Nvidia designs chips and systems but doesn’t manufacture them itself. Since its latest filing it reports two segments:

• Data Center covers GPUs, networking gear, CPUs and full rack-scale systems that train and run AI models. It is now 92.5% of revenue.
• Edge Computing is a newly reported segment. It covers products that run outside large data centers, including gaming, workstations and automotive.

Its current products include the Blackwell architecture, which Nvidia says led every category of the MLPerf Training 6.0 benchmarks, and the Vera Rubin platform, which the company says is now in full production across multiple cloud providers. It has also introduced a Vera CPU designed for AI agents (Nvidia, Aug 26, 2026).

Latest earnings: Q2 fiscal 2027 (reported August 26, 2026)

Nvidia’s fiscal year ends in late January, so “fiscal 2027” mostly covers calendar 2026.

Headline results

Sources: Nvidia press release; prior-year gross margin from Investing.com

Why GAAP profit beat non-GAAP this time

Usually adjusted (non-GAAP) earnings are higher than reported (GAAP) earnings. This quarter was the reverse, because GAAP included about $7.8 billion of gains on equity investments, which Nvidia strips out of its adjusted numbers. That makes $2.22 non-GAAP EPS the cleaner measure of the underlying business. It still beat the ~$2.08 analysts expected, according to Investing.com.

Who is buying

Investing.com’s summary of Nvidia’s earnings slides splits data center revenue into:

• Hyperscalers (the largest cloud companies): $48.7B, up 101%, about 55% of data center sales
• AI clouds, industrial and enterprise: $40.3B, up 138%

The faster growth outside the biggest cloud companies matters. It means Nvidia depends somewhat less on a handful of very large buyers than it did a year ago.

Guidance for Q3 FY2027

Nvidia expects revenue of $108.0 billion, plus or minus 2%, with gross margin around 74.0% (Nvidia). That would be up about 12% from Q2 and about 89% from the $57.0 billion reported a year earlier (Nvidia, Q3 FY26). The outlook assumes no data center compute revenue from China.

Revenue growth over the last five quarters

Sources: Nvidia press releases for Q3 FY26, Q4/FY26, Q1 FY27 and Q2 FY27

For the full fiscal 2026 year (ended January 25, 2026), Nvidia reported $215.9 billion in revenue, up 65%, including $193.7 billion from data centers, and $4.90 of diluted EPS (Nvidia).

The growth rate hasn’t slowed as the company got bigger. It sped up: year-on-year growth went from 73% to 85% to 106% over the last three reported quarters. That is unusual for a company of this size.

Is NVDA expensive? A rational valuation check

A high share price alone doesn’t make a stock expensive. What matters is the price compared with the profits behind it.

The P/E numbers

• Trailing P/E of 28.75 means investors pay about $28.75 for each $1 of profit earned over the past year.
• Forward P/E of 18.87 uses expected profit over the next year. Working backwards, that implies analysts expect about $12.05 of EPS over the next 12 months, versus $7.91 over the last 12.

A forward P/E under 20 is close to what the broad market often trades at. For a company growing revenue more than 80% a year, that looks modest. The catch is that the “cheap” reading only holds if those earnings forecasts are right.

What different valuations would imply

This isn’t a forecast. It shows how sensitive the price is to the multiple investors are willing to pay, using the implied ~$12.05 forward EPS:

Two things drive NVDA from here: whether earnings grow as expected, and what multiple investors will pay for them. If both move against the stock at once, a 30%+ fall is plausible, even for a profitable company.

What analysts say

StockAnalysis lists a consensus rating of “Strong Buy” from 61 analysts and an average price target of $328.66, about 44.5% above the September 21 close. Analyst targets are opinions, not guarantees, and they tend to follow the share price rather than lead it.

The bull case: what supports the stock

1. Demand is still growing faster than supply

Revenue guidance of $108 billion for the next quarter implies growth is continuing. Management has also pointed to supply constraints limiting how much demand it can fill, according to Investing.com’s summary of the earnings call.

2. Very high profitability

A 75% gross margin and a 66% operating margin are exceptional for a hardware business. They suggest strong pricing power.

3. Cash returned to shareholders

Nvidia returned about $26 billion through buybacks and dividends in Q2 and has roughly $99 billion of buyback authorization left. In May 2026 it raised its quarterly dividend from $0.01 to $0.25 per share (Nvidia).

4. A broader customer base

Sales to AI clouds, industrial and enterprise customers grew 138%, faster than sales to hyperscalers.

The bear case: risks you should weigh

1. Customer concentration

About 55% of data center revenue comes from hyperscalers. If a few of them slow their AI spending, Nvidia’s revenue could fall quickly.

2. Competition, including customers’ own chips

AMD’s shares jumped 9.9% on September 21, 2026, taking it to a $1 trillion market value (AP). Large cloud companies also design their own AI chips, which could replace some Nvidia purchases over time.

3. China and export controls

Nvidia’s outlook assumes zero data center compute revenue from China. That keeps the guidance conservative, but it shows how much trade policy can cut off part of the market.

4. Supply and memory constraints

Investing.com’s summary of management commentary cites margin pressure from memory scarcity, supply limits, and execution risk in the Vera Rubin ramp. Guidance already expects gross margin to dip slightly, from 75.0% to about 74.0%.

5. Volatility

A beta of 2.22 means NVDA has historically moved about twice as much as the overall market. If the market falls 10%, a stock with that beta could fall around 22%, though beta describes the past and doesn’t predict the future. Over the past year NVDA has traded between $164.27 and $236.54, a swing of more than 40% from low to high.

6. The AI spending cycle

Nvidia’s growth depends on companies continuing to spend heavily on AI infrastructure. If those investments don’t earn a return, spending could slow, and chip demand usually swings more sharply than the wider economy.

How NVDA fits into a portfolio

This section is general education, not a recommendation.

• Position size matters more than timing. A stock with a 2.2 beta can swing a whole portfolio. Many long-term investors cap any single stock at a small share of their holdings.
• You may already own it. Nvidia is one of the largest companies in the S&P 500 and the Nasdaq-100, so broad index funds already hold a lot of NVDA.
• Buying gradually lowers timing risk. Investing a fixed amount on a schedule avoids putting everything in at a peak. See how regular contributions add up with our SIP Calculator or Compound Interest Calculator.
• Know why you own it. If your reason is “AI keeps growing,” the numbers to watch are data center revenue growth and gross margin every quarter.

New to investing? Start with our guide on how to invest in the stock market and the stock market overview.

What to watch next

1. Q3 FY2027 earnings (quarter ending late October 2026): did revenue come in near $108 billion, and did gross margin hold near 74%?
2. Vera Rubin ramp: whether production and shipments grow without hurting margins.
3. Customer mix: whether sales outside the largest cloud companies keep growing faster.
4. China policy: any change in export rules could add or remove revenue.
5. Rates and market mood: high-growth stocks are sensitive to bond yields. Follow daily moves in our Stock Market Today recaps and on the Market hub.

How we researched this page

All financial figures come from Nvidia’s official quarterly press releases for Q3 FY2026 through Q2 FY2027. Share price, P/E, market cap, beta and analyst consensus come from StockAnalysis as of the September 21, 2026 close. Customer-mix and call commentary come from Investing.com’s summary of Nvidia’s earnings slides. Implied forward EPS and the valuation scenarios are our own calculations from those figures. We don’t hold price targets, and we update this page after each earnings report.

Sources: Nvidia Q2 FY27 · Nvidia Q2 FY27 full release · Nvidia Q1 FY27 · Nvidia Q4/FY26 · Nvidia Q3 FY26 · StockAnalysis: NVDA · Investing.com: Q2 FY27 slides · AP market report, Sep 21, 2026

Bottom line

Nvidia’s results are exceptional by any measure: $96.2 billion in quarterly revenue, 106% growth and a 75% gross margin, with guidance pointing higher. At 18.9 times forward earnings, the stock isn’t priced for perfection by traditional measures. That depends on forecasts that assume AI spending keeps rising. The main risks are concentration among big customers, rising competition, China, supply limits, and a share price that historically swings about twice as much as the market. Decide how much NVDA fits your goals and risk tolerance before deciding whether to buy.

→ Plan regular investing with our SIP Calculator · See all free calculators

This page is for education only and is not investment advice. We don’t know your financial situation. Past performance doesn’t guarantee future results. Consider speaking with a licensed financial adviser before investing.