Nvidia(US:NVDA) 智通财经网·2025-11-12 08:01Core Viewpoint - Citigroup maintains a "Buy" rating on Nvidia (NVDA.US) and raises the target price from $210 to $220, anticipating strong performance in the upcoming earnings report on November 19, which is expected to exceed revenue expectations and provide an upward guidance [1] Group 1: Earnings Forecast - Citigroup predicts Nvidia's sales for the quarter ending in October will reach $57 billion, surpassing the market average expectation of approximately $55 billion [1] - For the January quarter, Nvidia's sales guidance is expected to be $62 billion, also above the market expectation of around $61 billion [1] Group 2: Market Dynamics - Citigroup's model assumes Nvidia's data center sales will grow by 24% and 12% in the October and January quarters, respectively, compared to market expectations of 19% and 15% [2] - The report argues against the prevailing "AI bubble" narrative, stating that the main issue in the AI chip market is supply constraints rather than lack of demand [2] - Due to limitations in CoWoS capacity, AI supply is expected to remain below demand until 2026, with a potential balance only occurring around 2027 [2]