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Nvidia Q3 Report Next Week Becomes Pivotal Test for the AI Trade

Expectations hinge on guidance about hyperscaler demand resilience.

Overview

  • Nvidia will report fiscal third‑quarter results after the market close on Wednesday, Nov. 19.
  • Wall Street consensus calls for adjusted EPS of about $1.25–$1.26 on revenue of roughly $54.8–$55.3 billion, with data center sales projected near $49.5 billion.
  • Jefferies and Wedbush expect a beat‑and‑raise, while Bank of America looks for reassurance on Nvidia’s ability to meet demand.
  • Analysts highlight accelerating AI capex at Microsoft, Alphabet, and Amazon that disproportionately benefits Nvidia’s data‑center business.
  • Key watch items include potential chip supply limits at TSMC and emerging data‑center power constraints, with reports that CEO Jensen Huang has pressed for added manufacturing capacity.