US Stock Market Move | NVIDIA Corporation (NVDA.US) rose nearly 4% in pre-market trading; Goldman Sachs Group, Inc. said its third-quarter results are expected to beat expectations.

On Wednesday, NVIDIA Corporation (NVDA.US) rose nearly 4% in pre-market trading and is now at $174.88. Goldman Sachs Group, Inc. noted that despite heightened market concerns about the sustainability of AI infrastructure investment, NVIDIA Corporation's near-term fundamentals remain strong. Goldman Sachs Group, Inc. expects NVIDIA Corporation's third-quarter revenue for fiscal 2027 to be $110.081 billion, slightly above market expectations; data center revenue of approximately $102.551 billion, with a gross margin of 74.1%, above the market expectation of 73.1%; and earnings per share of $2.57, beating expectations by about 6%. Goldman Sachs Group, Inc. expects fourth-quarter revenue to reach $124.814 billion and earnings per share of $2.88, also about 6% above market expectations, mainly driven by improved profitability. NVIDIA Corporation's fiscal 2028 revenue is projected at $718.3 billion, with earnings per share of $16.70. Based on the share price listed in the research report, the expected price-to-earnings ratio for calendar year 2027 is about 11 times. The firm maintains a $300 target price, implying potential upside of about 61%.