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Nvidia Guiding Up Nicely Despite Margin Headwinds, UBS Says

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Nvidia's (NVDA) new 2027 guidance implies EPS above $16 even as gross margins face near-term pressure from higher memory prices, UBS said in a note Thursday.

The brokerage said it views the company's decision to provide firmer 2027 guidance positively, with demand still appearing to exceed the guided level.

UBS estimates Nvidia could ship about 13 gigawatts this year, including roughly 7 GW to hyperscalers and 6 GW to neoclouds, while its 2027 guidance implies about 19-20 GW.

However, the emergence of SpaceX (SPCX) could put Nvidia in a heavy allocation situation and leave limited room for hyperscaler shipments to grow, the brokerage said.

UBS raised its 2027 and 2028 EPS estimates to $17.16 and $22.08 from $16.20 and $19.81, respectively.

UBS maintained a buy rating and raised price target to $300 from $280.

Price: $228.90, Change: $+19.24, Percent Change: +9.18%

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