Nvidia Earnings Drop Next Week! Top Tech Investor Bullish: At Least Two More Years of Boom

 

The most hotly anticipated report of this earnings season—Nvidia's—is coming next week. One elite tech investor says Wall Street isn't nearly bullish enough on the chip giant heading into it.

 

Gene Munster, tech VC and founder of Deepwater Asset Management, is still pounding the table for Nvidia even as some fret the numbers might show slowing growth and a cooling AI trade. Munster's call: the good times roll for at least two more years.

 

In a post this week, Munster wrote that the skeptics on the Street are sleeping on CEO Jensen Huang's latest signals about the company's roadmap.

 

Laying out his pre-earnings take, Munster flagged two big reasons some analysts are playing it cautious: first, nobody's 100% sure how much supply Nvidia actually has in the pipeline; second, yeah, 60 analysts cover the name, but not all have cranked up forecasts to match the latest vibes. Even the ones who did only bumped next year's revenue outlook by about 6 points.

 

Munster zeroed in on Huang's October 28 keynote at Nvidia's global tech conference. Jensen dropped platform updates and painted a rosy revenue picture.

 

To Munster, that's enough rocket fuel to stay long the stock for another year.

 

"Jensen's Blackwell and Rubin revenue targets signal there's still over 10% upside by end of 2026. I see 2026 growth estimates getting revised from 39% to 45%," Munster said.

 

He added that consensus right now has Nvidia growing revenue 59% in 2025, 39% in 2026, and 22% in 2027.

 

Munster says Nvidia's caught in a classic Catch-22—straight out of Joseph Heller's novel: a no-win paradox.

 

Beat too soft? Market reads it as demand fading. Beat too hard? Suddenly everyone's screaming that Big Tech's GPU capex binge is unsustainable.

 

He brushed off the recent news of SoftBank dumping its Nvidia stake to pivot into OpenAI, saying it doesn't shake his thesis—Nvidia's got room to run.

 

"We're still early in the AI buildout, and Nvidia's moat is rock solid," he said. "That should drive growth above Street expectations for years."

 

Year-to-date in 2025, Nvidia stock's up 40%—but lagging rivals like AMD and Intel. Still, it's the world's most valuable company; market cap briefly kissed $5 trillion last month. This month, though, AI bubble jitters have knocked it back about 10%.