Nvidia Stock Poised to Shoot Higher Despite Latest Pressure, MS Says
Nvidia has been under pressure in recent weeks amid a rethink of the AI trade, but one top bank says investors don’t have much of a reason to worry about the chip king.
Nvidia stock is down 9% over the last month. Even its blockbuster third-quarter earnings failed to generate new excitement for the company and the broader AI sector. Big-name investors like Peter Thiel and SoftBank have dumped the stock, adding pressure.
But Morgan Stanley’s Joseph Moore this week pushed back on the downbeat narratives, increasing the bank’s price target for the stock to $250 from $235 on Monday. The new target is among the highest on Wall Street, and implies a nearly 40% jump from current levels.
Moore said that he thinks…
