Nvidia Stock Surges 13% on Strong AMD Results and Morgan Stanley's Bullish Call
Following AMD's robust performance and Morgan Stanley's positive outlook, Nvidia's stock soared 13%. Microsoft's increased data center spending also contributed to the surge.
Analysts are optimistic about Nvidia's upcoming earnings report, with the stock already up over 130% this year. Concerns raised by Morgan Stanley are overshadowed by expectations of strong earnings.
Similarly, AMD's stock price target is revised post-earnings, with analysts like Bank of America projecting significant growth. The global AI market sees heightened competition with Nvidia now the third most valuable company worldwide, buoyed by its dominance in the high-end AI chip sector.
Despite Nvidia CEO Jensen Huang's substantial stock sale, investor confidence remains high with expectations of the Blackwell GPU platform enhancing company performance.
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