Nvidia's Bullish Outlook Exceeds Expectations Amid Supply Constraints

Nvidia's strong fiscal 2028 outlook has bolstered Wall Street's bullish case for the company, according to analysts at KeyBanc, Bernstein, and Goldman Sachs. The stock slid lower by about 0.50% in premarket trading on Friday.

KeyBanc Capital Markets analyst John Vinh stated that Nvidia's 70% fiscal 2028 revenue-growth outlook significantly exceeded Wall Street expectations of roughly 45%. He added that the company sees enough demand to support 100% growth but remains supply-constrained.

Vinh expects demand to stay durable through next year and into a significant portion of 2028, with customer financing supporting genuine AI demand rather than artificially creating chip purchases. KeyBanc maintains a $330 price forecast.