Nvidia (NVDA) is poised to exceed fiscal Q4 expectations and guide above the Street while maintaining its "dominant" share position through 2026, Wedbush Securities said in a Monday note.

The company is expected to release its Q4 results after market close Wednesday and Wedbush said continued positive data points through the quarter point to a beat.

Nvidia has largely secured advanced wafer, CoWoS and DRAM supply for its Grace Blackwell platform. The brokerage said this positions the company to navigate server component constraints better than peers and sustain share through 2026.

Another upside driver is hyperscale capital expenditures, with 2026 forecasts exceeding prior expectations. Top customers increasing spending include Alphabet (GOOG, GOOGL), Amazon.com (AMZN), and Meta Platforms (META). Wedbush said AI-related investment is likely growing faster than overall capex trends.

Based on these capex data points, the brokerage said there could be upside to its current estimates. The firm's model assumes Nvidia's GPU revenue grows less than 50% in fiscal 2027.

Wedbush reiterated its outperform rating and $230 price target on Nvidia.

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