HSBC trims Nvidia’s PT on provide chain, says “beat & lift” in H1 FY26 not going Through loader.my.id

loader.my.id — HSBC reduced the objective worth on Nvidia (NASDAQ:) to $185 from $195 however maintained its “purchase” ranking, given provide chain problems for the GB200 chip within the first part of fiscal 2026.

Provide chain demanding situations, in particular round unique design producers meeting, are anticipated to weigh on first part of fiscal 2026 income momentum, creating a “beat & lift” state of affairs not going.

Then again, Nvidia’s B200 AI GPU ramp may just lend a hand offset one of the GB200 shortfall. The expected B300/GB300 release in 2nd part of 2026 might also prolong procurement, additional proscribing near-term upside.

“It appears to be like not going that Nvidia will handle a “beat & lift” of $2 bln in quarterly income forecast cadence or meet doable upper-end bullish 4Q25/2Q26 sell-side forecasts of USD42bn/USD47bn a minimum of till 2H26 when higher visibility emerges over the GB200 provide chain ramp-up,” analyst wrote.

Lengthy-term AI call for stays sturdy, supported by way of powerful hyperscaler capex, together with Microsoft’s $80 billion knowledge middle funding. Nvidia’s FY26 datacenter income forecast of $94.6 billion aligns with this call for outlook.

HSBC expects a more potent 2nd part of fiscal 2026 ramp to satisfy forecasts, in spite of trimming its EPS estimate by way of 6% to $5.74, nonetheless 28% above consensus. The revised goal displays an unchanged FY26 P/E of 32x.