Deutsche Bank analysts reaffirmed their Hold rating and a $100 price target on NVIDIA (NASDAQ:NVDA), noting they anticipate minimal financial risk for the company in the near term, ahead of its upcoming earnings report and guidance release on August 28, due to robust demand from its cloud customers. This observation is supported by recent reports of strong capital expenditure growth from major cloud service providers such as Meta, Microsoft, and Google.
Despite circulating reports of potential product delays, the analysts believe that NVIDIA's sales mix may shift more towards Hopper and alternative Blackwell solutions in the coming months. They acknowledged that any near-term executional issues, though rare for NVIDIA, could raise concerns, especially in the current volatile market environment.
Overall, the analysts remain confident in NVIDIA's leadership in AI silicon and systems, driven by healthy AI demand as indicated by capital expenditure trends. They plan to continue monitoring the situation closely, noting that further commentary from NVIDIA is unlikely until their official report on August 28.