Morgan Stanley reiterated Nvidia (NVDA.US) as its top semiconductor pick, with industry bottlenecks shifting to data center infrastructure. Cooperation between SpaceX and Amazon opens up growth opportunities.

智通财经2026/10/05 00:21

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According to reports from the Zhihu Finance APP, Morgan Stanley has released its latest research report, once again listing chip giant Nvidia (NVDA.US) as its top pick in the semiconductor sector, maintaining an “Overweight” rating and setting a price target of $300. The institution believes that the industry bottleneck is rapidly shifting from semiconductor production capacity constraints to the pace and financing model of building new data centers. Nvidia, leveraging its product architecture, global client ecosystem, and strong financing support capabilities, is well positioned to capitalize on the industry's dividends. Morgan Stanley is also optimistic about incremental gains from Muse smart agents and new customer collaborations, suggesting further upside potential in the company’s valuation. The bank emphasizes that Nvidia is currently trading at only 15 times the projected FY2028 earnings per share, making the valuation highly attractive, and even if the price-to-earnings ratio does not expand, robust earnings growth alone could provide solid investment returns.

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