Nvidia’s Fiscal 2028 Revenue Estimate Is Up 25% Since June. Here’s What November 17 Has to Prove

Key Stats for Nvidia Stock

• Current Price: $204.64

• Target Price (Mid): ~$500

• Street Target: ~$329

• Potential Total Return: ~145%

• Annualized IRR: ~23% / year

What Happened?

Nvidia (NVDA:NASDAQ) fell 4.22% to $204.64 on October 30 as Intel’s weak outlook and Amazon’s results revived doubts about AI spending and dragged chip stocks lower. The estimates have been moving the other way. Wall Street’s revenue forecast for Nvidia’s fiscal year ending January 2028 is up 25% since June 30, while the stock sits close to its $206.84 level at the end of the July quarter. Separately, an October 30 notice listed Nvidia among 50 companies objecting to tokenized versions of their stock on ICE and OKX’s planned 24/7 venue, a decision about where its shares trade, not what it earns.

Estimates Rose. The Price Stood Still

In TIKR’s consensus data, fiscal 2028 revenue rose from about $554 billion on June 30 to about $692 billion on November 2. Coverage barely changed, from 55 analysts to 57, so that rise reflects revisions rather than new forecasters. Fiscal 2029 rose 33%, to about $903 billion, though its coverage grew from 27 analysts to 38. Most of both increases came in…