11:07 AM EDT, 08/21/2025 (MT Newswires) -- Nvidia ( NVDA ) is expected to beat fiscal Q2 estimates of $1 earnings per share and $45.8 billion in sales, Oppenheimer said in a note emailed Thursday.

Oppenheimer said that China accounts for less than 5% of the sales in its estimates, post the April China H20 chips ban. The firm's analysts estimate H20 backlog of more than $16 billion when the ban took place, and expect Nvidia ( NVDA ) to hike chip prices to offset paying the Trump Administration 15% of the sales for obtaining an export license.

The chipmaker will release its fiscal Q2 results next Wednesday.

Oppenheimer expects Nvidia's ( NVDA ) gross margin to hold mid-70% for the foreseeable future, and reiterated its outperform rating and a $200 price target on the company's stock.

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