Go long on NVIDIA stock with $243 in view

NVIDIA stock is currently trading at $216.50, down more than 10% from its recent record high. The tech sector may be correcting, but the company's fundamentals are still rock-solid. The real driver here is the massive AI infrastructure spending coming from the biggest heavyweights—and there is no sign of it slowing down. 

So, how strong are those fundamentals? In the second quarter (Q2) of fiscal 2027, revenue jumped 106% year-over-year to $96.2 billion. Data center sales climbed 117% to $89 billion, and the gross margin held steady at a hefty 75%. In short, demand for computing power is as strong as ever, and NVIDIA keeps generating substantial income.

What's next on the calendar? The financial report, covering the third quarter (Q3), is expected in mid-November. Management is guiding for about $108 billion in revenue and a gross margin of nearly 74%. Investors will be watching closely to see how fast new accelerators are shipped, where profits are headed, and what next year's demand will look like. Here's the key point: if the world leader in artificial intelligence computing confirms strong momentum, it could be the spark the stock needs to bounce back.

The broader market is still sending mixed signals as traders weigh the returns on AI bets. That said, US indices have steadied, and interest in technology remains solid—both of which should lend NVIDIA a hand.

Finally, let's look at the charts. On the technical side, the stock has bounced off the $210 support and started moving up, with $243 in sight—a level that marks its all-time peak.

The ultimate recommendation is to buy NVIDIA shares at the current price ($216), aiming to reach $243 within two weeks. To keep risk in check if the position goes against us, place a Stop Loss order at $200.