NVIDIA CorporationNASDAQ:NVDA
Published 2026-08-27; market data is through the 2026-08-26 close [Yahoo Finance]. Financials are through July 26, 2026 and are based on the official FY2027 Q2 (quarter ended July 26, 2026) 10-Q and results release [SEC 10-Q · sourced nvda.pdf].
FY2027 Q2 revenue was $96.2B, up 106% YoY and 18% QoQ; gross margin was 75.0%; GAAP net income $59.7B with diluted EPS $2.46; data-center revenue $89.0B (92.5% of the group) [10-Q Note 13]. Yet supply/capacity commitments aggregate to $279B, making supply, power and financing the key valuation constraint.
Conclusion: BUY, with a 12-month target of $284, or 35.5% upside from $209.66. We use FY2028E revenue of $568B, 12.0x EV/Sales, a $23.2B net-cash bridge and 24.1B shares; Forward P/E is the cross-check anchor.
§01Investment Summary
NVIDIA has moved from an AI narrative into revenue execution: FY2027 Q2 revenue was $96.2B (up 106% YoY), data center $89.0B (92.5% of the group) at 75.0% gross margin [10-Q]. H1 operating cash flow was $74.4B, buybacks $39.8B and remaining authorization $99.3B, with $23.2B net cash [10-Q cash flow].
Three supports for BUY: (1) data-center revenue up 117% YoY and the +70% FY2028 guide implies $568B consensus; (2) $23.2B net cash and a $99.3B buyback provide shareholder return; (3) spot FY2028E P/E
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