Nvidia's August Earnings Report Could Boost Stock 44%

Nvidia's upcoming earnings report on August 26 is expected to have a significant impact on the stock market, with many analysts predicting strong financial results.

Wall Street has revised its estimates higher in recent weeks, and most analysts consider Nvidia undervalued. The median target price for the stock is $300 per share, implying 44% upside from its current price of $208.

Nvidia dominates the artificial intelligence infrastructure market, with an estimated 80-90% market share of graphics processing units (GPUs) used in AI accelerators.

According to Goldman Sachs analyst George Lee, Nvidia accounts for 75% of data center capital expenditures related to AI compute, and is expected to generate $750 billion in revenue by the end of the decade if it maintains its market share.