NVIDIA Corporation (NASDAQ:NVDA) is heading into its August 26 earnings report with expectations already elevated. Wall Street firm Stifel believes it can clear this high bar, with its bull case built around independent checkpoints scattered across the supply chain.
On August 19, Stifel ******* yst Ruben Roy reiterated a Buy rating on the stock with a $282.00 price target, implying roughly 30% upside from current levels. Stifel anticipates Nvidia to beat estimates and raise guidance, noting how its broader coverage preview reinforces the demand case for the stock.
One company behind Stifel's bullish call is Foxconn, legally known as Hon Hai Precision Industry Co., Ltd. Foxconn is the world's largest electronics contract manufacturer and a key Nvidia partner in its artificial intelligence buildout. The company reported second-quarter revenue of NT $2.53 trillion, jumping 41% year-over-year. Operating profit increased 68%, while net profit increased 35% backed by continued strong demand for AI.
Roy cited how Foxconn had its cloud and networking segment cross 50% of revenue for the first time with full-year AI rack shipments guided to more than double. CEO Michael Chiang reinforced this by noting that AI-related business performance will continue to grow in the third quarter and that the company expects significant quarter-on-quarter growth and strong year-on-year growth.
Another company supporting Stifel's bullish case is Super Micro Computer Inc (NASDAQ:SMCI). Super Micro is a global technology leader that designs and builds servers, storage systems, and complete rack-scale hardware for data centers. These AI servers and hardware sit at the core of data centers running Nvidia accelerators.
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On August 19, Stifel ******* yst Ruben Roy reiterated a Buy rating on the stock with a $282.00 price target, implying roughly 30% upside from current levels. Stifel anticipates Nvidia to beat estimates and raise guidance, noting how its broader coverage preview reinforces the demand case for the stock.
One company behind Stifel's bullish call is Foxconn, legally known as Hon Hai Precision Industry Co., Ltd. Foxconn is the world's largest electronics contract manufacturer and a key Nvidia partner in its artificial intelligence buildout. The company reported second-quarter revenue of NT $2.53 trillion, jumping 41% year-over-year. Operating profit increased 68%, while net profit increased 35% backed by continued strong demand for AI.
Roy cited how Foxconn had its cloud and networking segment cross 50% of revenue for the first time with full-year AI rack shipments guided to more than double. CEO Michael Chiang reinforced this by noting that AI-related business performance will continue to grow in the third quarter and that the company expects significant quarter-on-quarter growth and strong year-on-year growth.
Another company supporting Stifel's bullish case is Super Micro Computer Inc (NASDAQ:SMCI). Super Micro is a global technology leader that designs and builds servers, storage systems, and complete rack-scale hardware for data centers. These AI servers and hardware sit at the core of data centers running Nvidia accelerators.
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