How did Wall Street respond after Nvidia's impressive Q2 results?

Nvidia's Q2 performance and Q3 guidance are the best! They surpassed Wall Street's expectations. They reported a Q2 revenue of $13.5 billion, exceeding the estimated $11.1 billion. The adjusted earnings per share were $2.70, higher than the estimated $2.09. For Q3, they expect a revenue of approximately $16 billion, far exceeding the consensus of $12.4 billion.

Nvidia's CEO, Jensen Huang, said, "A new era of computing has begun." He highlighted the transition from traditional computing to accelerated computing and generative AI. They also announced a stock buyback of $25 billion.

As for the stock movement, Nvidia's shares increased by 5%, reaching a new record high of approximately $502.

📈 How did Wall Street respond? Well:

Wedbush:

- When talking about AI demand, they compare it to the internet in 1995 and the launch of the iPhone in 2007.

- They predict impressive growth in the tech sector with an estimated spending of $1 trillion.

- They maintain an "Outperform" rating and raise the target price from $490 to $600.

JPMorgan:

- They see Nvidia driving strong revenue growth, especially in the datacenter next year.

- They emphasize the widespread demand for AI from cloud/hyperscale, internet consumers, and enterprise customers.

- They maintain an "Overweight" rating and raise the target price from $500 to $600.

Goldman Sachs:

- They highlight Nvidia's demand in the Data Center and expect Nvidia to continue to be a leader in accelerated computing.

- They maintain a "Buy" rating and raise the target price from $495 to $605.

Stifel:

- They acknowledge Nvidia's major role in AI training and the potential shift in data center infrastructure.

- They focus on the transition from CPU-based infrastructure to accelerated compute.

- They upgrade Nvidia to "Buy" from "Hold" and raise the target price from $440 to $600.

So what do you guys think about Nvidia's decision? Did anyone invest? 🤔📉🚀