As long as companies are interested in generative artificial intelligence, Nvidia stands to benefit.
Morgan Stanley released an analyst note on Monday reiterating that Nvidia continues to be the firm's "Top Pick" coming off the company's most recent earnings in which reported a better-than-expected forecast.Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., speaks during the company's event at Mobile World Congress Americas in Los Angeles, California, U.S., on Monday, Oct. 21, 2019.
Morgan Stanley released an analyst note on Monday reiterating that Nvidia continues to be a "Top Pick" coming off the company's most recent"We think the recent selloff is a good entry point, as despite supply constraints, we still expect a meaningful beat and raise quarter — and, more importantly, strong visibility over the next 3-4 quarters," the Morgan Stanley analysts wrote.
"The bottom line is that this is a very positive situation, October numbers are entirely gated by supply, and the upper end of the buy side consensus has been reined in," the analysts wrote. "We see numbers are going up at least enough that this stock will trade at P/Es more similar to the upper end of semis, with material upside still ahead."
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