A Franklin Templeton portfolio manager said NVIDIA investors will want more than an earnings beat: they need concrete detail on capital deployment, sustained spending plans and a clear growth roadmap. She pegs NVIDIA’s 12‑month forward P/E at about 21x and says the market is already pricing slower growth, shifting focus to next year. NVIDIA must show earnings growth to justify free cash flow for investment and buybacks. The manager flagged NVIDIA’s roughly 75% gross margin as unusually high for

A Franklin Templeton portfolio manager said NVIDIA investors will want more than an earnings beat: they need concrete detail on capital deployment, sustained spending plans and a clear growth roadmap. She pegs NVIDIA’s 12‑month forward P/E at about 21x and says the market is already pricing slower growth, shifting focus to next year. NVIDIA must show earnings growth to justify free cash flow for investment and buybacks. The manager flagged NVIDIA’s roughly 75% gross margin as unusually high for a hardware company and said margins will be closely watched as input costs rise. NVIDIA is raising prices to offset higher memory costs; earlier reports said servers based on the Vera Rubin and Grace Blackwell architectures could see price increases of more than 15% in early 2027.