Nvidia’s Strong Underlying Dynamics Set to Prevail
Despite near-term uncertainties, Morgan Stanley remains bullish on Nvidia (NVDA), citing strong demand for its Blackwell products. The firm’s enthusiasm for the stock is fueled by the company’s robust underlying dynamics, which are expected to overcome current market anxieties.
Mixed Data Points and Emerging Debates
The market is currently grappling with several concerns, including the slowdown of prior generation Hopper builds and the staggered release of new Blackwell products. Additionally, Marvell (MRVL) and Broadcom (AVGO) are projecting strong long-term growth in Application-Specific Integrated Circuits for AI applications, which may be causing some uncertainty.
Strong Demand for Blackwell to Drive Growth
However, Morgan Stanley believes that strong demand for Blackwell will ultimately prevail, driving Nvidia’s growth. The firm maintains an Overweight rating and $166 price target on Nvidia shares, indicating its confidence in the company’s prospects.
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