Nvidia stock Top Pick at Morgan Stanley again after tech sell-off
NVDA tumbled 7% on Tuesday to $103.73, representing its lowest closing price since May. Other chip stocks followed, with the iShares Semiconductor ETF has also pressured Nvidia's stock. However, Nvidia's central position in the AI market and its ability to attract customers back from custom silicon alternatives highlight its enduring competitive edge.
For export control concerns, particularly those concerning China, analysts said that while there are risks related to geopolitical factors, Nvidia’s minimal trailing revenue from China reduces potential impacts. Furthermore, the adaptability of Nvidia’s H20 product to meet export requirements ensures continued market presence despite regulatory hurdles.
“Visibility will actually increase as demand moves from Hopper to Blackwell, as the constraint will shift back to silicon; H100 lead times are short, but H200 lead times are already long, and Blackwell should be even longer,” analysts continued.
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