We're raising our price target on Nvidia after another knockout quarter and guide

Nvidia reported another blockbuster quarter on Wednesday and issued guidance well above analyst forecasts. The results and conference call reinforced our belief that Nvidia is an essential stock to own during the race to build the best and most profitable AI data centers. Revenue in the company's fiscal 2027 first quarter increased 85% year over year to $81.62 billion, outpacing the $78.89 billion consensus, according to estimates compiled by data provider LSEG. …