Stifel analyst Ruben Roy maintained a buy rating and $282 price target on Nvidia ahead of the company’s Aug. 26 fiscal 2027 second-quarter results. Stifel expects Nvidia to beat quarterly forecasts and raise its subsequent guidance. The bank said this earnings season has further strengthened the artificial intelligence (AI) demand case, citing higher cloud-service-provider capital spending, Hon Hai’s cloud-networking products business generating more than 50% of its revenue for the first time, and expectations that full-year AI rack shipments will more than double. Supermicro also recorded more than 60 billion in new orders in a single quarter. Supply-chain checks indicate that GB300 demand could continue through the first half of 2027 even as Vera Rubin begins scaling, reducing the risk of a demand gap during Nvidia’s product transition. Stifel said storage costs and competition in AI inference (running trained AI models) are more likely to pressure gross margins than demand, and that these risks are already partly reflected in Nvidia’s current valuation.