Nvidia is the top AI pick and the stock could jump 15% as demand has picked up since the chip maker's blockbuster earnings report, Morgan Stanley says
has more room to climb as demand has only picked up since the chipmaker's blockbuster earnings report last month, Morgan Stanley said.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 aMorgan 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 the only company that will beat estimates and raise its guidance this calendar year.
"The demand environment for AI training has continued to pick up since NVIDIA reported, with our industry contracts reporting daily new orders from customers that were not contemplated as major customers until now," the note said. Last month, Nvidia increased its second-quarter revenue forecast to $11 billion, more than 50% above consensus, due to the
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