NVIDIA Trades at 13 Times Forward Earnings After a 27% Slide. Wall Street Still Sees $325+ Vandita Jadeja Fri, November 13, 2026 at 12:03 PM EST 6 min read NVDA -3.17% AMD -10.62% AVGO -5.46% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
NVIDIA trades at 13 times forward earnings after a 27% monthly plunge, yet 24/7 Wall St. rates it a BUY with a $232 target.
Revenue more than doubled to $96 billion last quarter, and Q3 guidance of $108 billion points to the business still accelerating.
AMD trades at 27 times forward earnings and Broadcom at 16, while NVIDIA sits at 13 despite faster revenue growth.
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Our 24/7 Wall St. price target for NVIDIA (NASDAQ:NVDA) is $231.97. Shares traded at $167.49 at midday, so the target means about 38.5% upside. Our model rates the stock a buy with 90% confidence, which counts as high conviction.
NVIDIA just doubled its revenue, yet the stock trades at about 13 times forward EPS of $13.1768. Wall Street's consensus target of $326.92 sits well above our own figure.
Our model has held its buy rating through every weekly refresh since August 15, even as the target drifted lower along with the share price.
NVIDIA has fallen 17.11% over the past week and 26.95% over the past month. That leaves it down 9.98% year to date. The stock now sits about 31% below its 52-week high of $243.37 and only 2% above its low of $163.90.
Bloomberg called it a historic split from the S&P 500: NVIDIA kept dropping while the broader market rallied. The slide picked up speed in early November during a wider AI chipmaker selloff.
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The business is still moving in the other direction. In fiscal Q2 2027, revenue rose 105.85% to $96.221 billion, ahead of the $92.069 billion consensus. Non-GAAP EPS of $2.22 also beat estimates, making it the sixth straight quarter of beats. For Q3, management guided to $108 billion in revenue, give or take 2%.
In our bull scenario, the stock reaches $265.98. On the August earnings call, CFO Colette Kress said NVIDIA expects "to grow revenue by approximately 70% in fiscal 2028. This is a supply-constrained outlook."
Vera Rubin brings in about $40 billion per gigawatt, compared with $25 billion for Blackwell. Capex at the top five hyperscalers is expected to reach $1.3 trillion in 2027. Analysts are lopsidedly bullish, with 49 Buy and 10 Strong Buy ratings against a single Sell.
Our bear case lands at $206.63, which is still above today's price. Gross margin is expected to bottom at 71% to 72% in Q4 as memory costs rise. NVIDIA has also put nearly $50 billion into frontier AI labs, and days sales outstanding rose to 60 days. Among tracked institutional institutions, 12 trimmed their stakes in the June quarter, while only 6 added.
Each of these risks has a counterpoint. Management expects margins to return to 72% to 73% in fiscal 2028 once price increases kick in. It also says shipped compute goes to investment-grade customers or buyers backed by one.
Advanced Micro Devices (NASDAQ:AMD) is NVIDIA's most direct GPU rival. Its Data Center revenue rose 97% last quarter as its Instinct MI450 chips scaled up. Even so, AMD trades at 27 times forward earnings while growing revenue more slowly than NVIDIA.
With custom AI accelerators and networking chips, Broadcom (NASDAQ:AVGO) competes for the same hyperscaler budgets. AI semiconductor revenue rose 221%. Broadcom trades at 16 times forward earnings. At our target, NVIDIA would trade near 18 times forward earnings, still well below AMD. That makes our target look reasonable, even conservative.
The 24/7 Wall St. price target of $231.97 comes with a buy rating and 90% confidence. Valuation decides it, since even our downside scenario sits above the current price.
I'd grow more confident if Q3 results confirm the $108 billion guide and Vera Rubin ramps on schedule. I'd get more cautious if margins fall below the guided floor or customer financing grows faster than revenue. At 13 times forward earnings, I think the selloff has priced in more risk than the numbers justify.
Here is where our model projects NVIDIA could trade over the longer term, assuming today's growth trends and market conditions hold.
These projections assume NVIDIA stays on its current path. The biggest key factors are whether supply constraints ease or China export rules change.
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