NVIDIA Corporation (NVDA) closed at $182.78, down $4.19 (2.24%), at 4:00:03 PM EST on February 13. The slide came as investors locked in profits ahead of the company’s highly anticipated Q4 Earnings Report, even after Goldman Sachs reiterated its bullish stance and projected a potential “beat-and-raise quarter.” NVIDIA Corporation will release its fourth quarter fiscal 2026 financial results on February 25, 2026.
The pullback comes at a pivotal moment for Nvidia, with Wall Street increasingly focused on whether the chip giant can sustain its momentum in the fast-evolving Artificial Intelligence (AI) landscape. While short-term traders opted to de-risk positions, Goldman analysts argued that underlying fundamentals remain intact.
Goldman Reaffirms $250 Price Target
Goldman Sachs maintained its Buy rating on Nvidia and reiterated its $250 Price Target, citing expectations of a roughly $2 Billion Beat versus consensus estimates in the upcoming quarter. The bank’s analysts believe Nvidia is well-positioned to deliver a revenue surprise, driven primarily by continued demand from hyperscale data center customers.
However, in a nuanced take that has caught investors’ attention, Goldman also noted that much of the upside for calendar year 2026 may already be reflected in the stock. Instead, the firm highlighted 2027 revenue visibility as the more critical driver for Nvidia’s next sustained rally.
Hyperscaler CapEx and AI Momentum
At the center of the bullish thesis is accelerating Hyperscaler CapEx. Major cloud providers, including Amazon, Alphabet, and Meta, continue to ramp spending on AI infrastructure. These investments directly support demand for Nvidia’s high-performance GPUs and networking solutions.
Wall Street analysts see sustained AI training and inference workloads as a multi-year tailwind, underpinned by Nvidia’s CUDA software. The company’s proprietary software ecosystem creates high switching costs, reinforcing its dominance in AI accelerators and limiting near-term competitive threats.
Still, competition remains part of the broader narrative. Rivals such as AMD and Broadcom are expanding their AI chip portfolios. While neither has matched Nvidia’s scale in AI accelerators, incremental share gains could influence pricing dynamics over time.
Blackwell, Rubin, and the CY27 Story
Blackwell and Rubin are shaping the company’s longer-term revenue trajectory. These platforms are expected to drive the company’s performance in 2026 and 2027, particularly as AI workloads grow more complex and compute-intensive.
Jensen Huang, founder and CEO of NVIDIA Corporation, stated that artificial intelligence is fueling “the largest infrastructure buildout in human history”. Analysts believe that clarity around Blackwell production ramps and Rubin timelines during the Q4 Earnings Report could materially influence forward estimates.
The upside in CY26 is largely priced in, suggesting that investors should focus on commentary on 2027 pipeline visibility, backlog strength, and customer commitments.
China’s Recovery and Geopolitical Factors
Another variable in the earnings equation is China. NVIDIA’s H200 shipments and broader exposure to the Chinese market have faced regulatory headwinds, but signs of stabilization could provide incremental upside. Goldman flagged potential recovery in China (H200) demand as an underappreciated catalyst, though geopolitical uncertainty remains a risk factor.
Should Investors Buy NVDA Before Earnings?
For investors asking, “Should I buy NVDA before earnings?” the answer may hinge on time horizon. Short-term volatility is likely if Nvidia merely meets expectations, given the stock’s elevated valuation. However, a clear beat-and-raise quarter, consistent with Goldman’s $2 Billion Beat projection, could reinforce the bull case, especially if management strengthens CY27 guidance tied to Blackwell and Rubin.
Despite the recent 2% dip, Nvidia remains at the center of the AI investment narrative. As the Feb. 25 Q4 Earnings Report approaches, traders and long-term investors alike will be watching closely to see whether the company can once again exceed expectations and justify Goldman’s $250 Price Target amid an increasingly competitive and high-stakes AI race.
