Lyon: maintaining a "high conviction outperform" rating for Nvidia, stable growth momentum enough to refute AI pessimism.

Lyon released a research report stating that NVIDIA's revenue for the third quarter of the 2026 fiscal year reached $57 billion, exceeding its upper limit guidance by 3.5%, achieving its best performance in nearly four quarters. The revenue forecast for the fourth quarter is up to $66.3 billion, and it implies that the AI business will continue to grow steadily, and may even accelerate. The report pointed out that NVIDIA's revenue growth guidance for the fourth quarter is higher than the third quarter, believing that its steady growth momentum is enough to refute the pessimistic views on artificial intelligence. Lyon maintains a "high confidence in outperforming the market" rating for NVIDIA, with a target price of $270 based on a forecasted P/E ratio of 35 times for 2028.