Morgan Stanley says strong demand for Blackwell to ‘prevail’ over Nvidia worries

Morgan Stanley says the firm has “tended to be most enthusiastic” on Nvidia (NVDA) when “near-term data points appear mixed, but underlying dynamics are very strong,” which the firm thinks is a point approaching now. Anxieties the market is wrestling with include that prior generation Hopper builds continue to slow, that not every version of new Blackwell products is ready to ship at the same time, and Marvell (MRVL) and Broadcom (AVGO) projecting strong longer term growth in Application-Specific Integrated Circuits for AI applications, the analyst tells investors. However, despite the A number of near-term debates that are emerging, “strong demand for Blackwell will prevail,” argues the analyst, who maintains an Overweight rating and $166 price target on Nvidia shares.