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Nvidia is set to reveal its Q3 earnings on November 20, and Wall Street is abuzz with high expectations. Despite a slight downturn in Nvidia's stock recently, experts remain optimistic about the tech giant's performance, bolstered by its leading role in the AI industry. The declining stock is largely seen as a product of broader market volatility that has also affected other major tech players like Microsoft and Advanced Micro Devices.

Nvidia's shares are currently down by 1%, continuing a 1.5% dip for the week. However, analysts predict a rebound as the Q3 earnings call approaches. Reflecting this sentiment, several analysts have increased their price targets for Nvidia. Atif Malik of Citi recently revised his target from $150 to $170, indicating a 16% potential upside, supported by confidence in Nvidia's chip sales and data centers.

Harsh Kumar of Piper Sandler has also adjusted his target upwards from $140 to $175, suggesting a 19% upside. Kumar maintains a Buy rating, expecting Nvidia to surpass revenue expectations in the forthcoming quarters. Similarly, Timothy Arcuri of UBS raised his target from $150 to $185, revealing a 19% potential increase.

Vijay Rakesh of Mizuho Securities and Joseph Moore of Morgan Stanley have also shown optimism. Rakesh lifted his price target to $165 from $140, projecting a 12% upside and anticipating strong performance in the January quarter. Moore echoed this positive sentiment by increasing his target from $140 to $165 and foreseeing Nvidia's chip sales peaking at $6 billion.

Wall Street's confidence in Nvidia remains palpable, underscored by a Strong Buy consensus rating based on 39 Buys and three Holds over the past three months. The average price target stands at $157.82 per share, pointing to a 7% upside potential. Despite the recent dip, Nvidia's stock has surged by 196% in the past year, highlighting the company's robust growth trajectory as it heads into its Q3 earnings call.