Nvidia to Top Quarterly Revenue Estimates as Investors React to Leadership Change, Wedbush Says

10:28 AM EST, 11/13/2026 (MT Newswires) -- Nvidia (NVDA) is likely to exceed fiscal third-quarter revenue estimates and issue a strong fourth-quarter outlook, as investors assess the artificial intelligence behemoth's growth prospects without Jensen Huang at the helm, Wedbush Securities said in a Friday client note. The brokerage forecasts Nvidia to post revenue closer to the $113 billion to $115 billion mark for the third quarter. The company is scheduled to release its latest results after markets close on Nov. 17. The company said in August that it anticipated revenue of $108 billion, plus or minus 2%, while the current FactSet-polled consensus is $108.72 billion. For the fiscal fourth quarter, Wedbush expects Nvidia to issue revenue guidance of $124 billion to $130 billion, with the midpoint about $2 billion above the consensus estimate. "Management has tended to leave a fair bit of wiggle room in guidance, allowing for meaningful upside when reporting numbers and we expect (Nvidia) will deliver another beat and raise quarter," Wedbush analyst Matt Bryson wrote in the note. Shares of the company fell 3.7% in Friday trade, having lost about 14.1% so far this year. Huang resigned as chief executive and a board member of Nvidia on Thursday following reports that he had two extramarital affairs, including one with an alleged Chinese spy. The company named Chief Financial Officer Colette Kress as interim CEO. Wedbush said Huang's departure creates uncertainty around Nvidia's direction, but the company's board and executives "have some leeway in figuring things out." The stock's valuation already reflects downside risks associated with the transition, Bryson wrote. "Any issues are less likely to manifest in financials over the next few quarters as strong demand, set contracts (both for shipments and materials) and supply chain constraints should allow (Nvidia) to operate without any stumbles through the next few quarters," Bryson said. Wedbush maintained its outperform rating on Nvidia's stock, but lowered its price target to $275 from $345. The brokerage continues to expect major hyperscalers to devote much of their capital expenditure budgets to developing AI capabilities, with a significant portion of that spending benefiting Nvidia because its hardware accounts for a substantial share of AI server costs. The four largest hyperscalers, Microsoft (MSFT), Alphabet (GOOG, GOOGL), Amazon (AMZN) and Meta Platforms (META), spent a combined $202 billion on capital expenditures in the third quarter, up 22% from the previous quarter and 108% year over year, Wedbush said. All four companies indicated plans for higher spending in 2027, the brokerage added. Wedbush expects investment by neocloud companies, AI model developers and sovereign customers to grow faster than hyperscaler spending. Rapid growth at AI developers, including OpenAI and Anthropic, points to increasing commercial returns from AI offerings, Bryson said. Price: 159.84, Change: -6.35, Percent Change: -3.82