Nvidia CEO Jensen HuangKim Kulish/Corbis/Getty Images
Morgan Stanley raised its price target on Nvidia to $500 and called the stock its “top pick.”
Analysts said demand has picked up since the chip maker’s blockbuster earnings report last month.
Nvidia is getting orders from customers who weren’t thought of as major buyers until now.
Nvidia stock has more room to climb as demand has only picked up since the chipmaker’s blockbuster earnings report last month, Morgan Stanley said.
Analysts raised their price target on Nvidia, which has blown away Wall Street with its artificial intelligence chips, to $500 from $450, representing 15% upside from current levels.
That’s despite shares already soaring 200% year to date and joining a handful of other tech giants with a market cap of $1 trillion or more.
Morgan Stanley also named Nvidia its new “top pick,” taking that moniker away from the previous holder, rival chip stock AMD. Analysts said Nvidia has more near-term upside, predicting it will be…
2023-06-16 19:18:27
Post from finance.yahoo.com