Nvidia: Buy Before Q2 Shows The AI Factory Trade Is Still Early (Upgrade)

Nvidia Corporation remains a Strong Buy ahead of Q2 earnings, driven by robust Data Center growth and margin durability. NVDA's Q2 guidance targets $91B revenue with gross margin near 75%, excluding China Data Center compute, reinforcing the core bull thesis. Exceptional profitability, platform control, and multi-source AI demand justify NVDA's premium valuation despite elevated expectations and ongoing China risks.