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NVIDIA: Demand Is Accelerating, but Capital Discipline Now Matters More


Summary

  • NVIDIA’s fiscal Q2 2027 revenue rose 106% Y/Y to $96.2Bn, while non-GAAP EPS reached $2.22, beating consensus of $2.09 thus why I am maintaining a strong buy rating.


  • The AI infrastructure thesis strengthened, particularly through strong enterprise, sovereign AI, and AI-cloud demand. However, receivables, inventory, debt, and customer guarantees introduce new risks.


  • I estimate a present target price of $330, based on approximately $15.83 of FY28 non-GAAP EPS and a discounted 24x forward multiple.

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  • On December 12th, we will be bringing together investors and long-term thinkers at Fairmont Mt. Kenya Safari Club, Nanyuki for the Annual Henriot Capital Investor’s Summit. A full day of research, markets, meaningful conversations and shared experiences, built around one idea: long-term wealth conversations for future generations. Request an invitation below.

Close-up of Blackwell GPUs on a dark circuit board, with glowing chip surfaces and a sleek BLACKWELL GPUs label.
Source: WCCFTECH

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