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Morgan Stanley just lifted its price target on Nvidia to $200, up from $170, saying the stock could climb another 14% before the chipmaker posts its earnings on August 28. That note came from Joseph Moore, the firm’s analyst, who has kept an overweight rating on the stock. The call was based on stronger-than-expected demand from customers, especially around AI workloads, as interest in machine learning and inference computing continues to expand. “AI strength is exceptional in both supply and demand. All of our data points and contacts are telling us that customers need more compute, and we are seeing a clear acceleration in inference workloads driving that,” Moore wrote on Wednesday. He also added that the upcoming Blackwell chip cycle could push second-half results higher, as new products roll out across processors, memory, and networking categories. Moore said he’s raising his estimates across his group of AI chip companies, not just Nvidia. China shipments and AI hardware rollouts expand chipmaker outlook Nvidia told investors earlier this month that it’s preparing to begin deliveries of its H20 GPUs to China “soon.” This comes after the company said in April that it would take a $5.5 billion charge due to U.S. export restrictions limiting its sales in that region. Moore acknowledged this in his analysis, saying the renewed activity in China, combined with strong AI demand from cloud customers, adds more tailwinds in the back half of the year. The rally isn’t isolated to just Nvidia. Advanced Micro Devices, better known as AMD, has also been climbing. Year-to-date, AMD has advanced about 47%, outpacing Nvidia’s 31% gain. Moore, while maintaining an equal-weight rating on AMD, still pushed its price target higher from $121 to $185, implying about 4% more upside. He wrote that AMD’s Mi350 chip cycle could also bring strong…

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Filed under: News - @ July 30, 2025 1:28 pm