Street’s much-awaited earnings report is almost upon us, and artificial intelligence stalwart Nvidia Corp. (NASDAQ:NVDA) is widely expected to clear the lofty goals. Ahead of the results, an analyst at Morgan Stanley said he is comfortable with the “high expectations.”
The Nvidia Analyst:
Joseph Moore has an Overweight rating and a $144 price target for Nvidia shares.
The Nvidia Thesis:
Nvidia stock has fairly weathered concerns surrounding potential delays in Blackwell shipments, said Moore in a note released late Sunday. Near-term business is strong and Blackwell ramp-up will likely happen this year as per initial guidance, he said.
Moore expects some volume in October and a more material ramp-up in the January quarter. The management is likely to stick to its script and say “they are on track to volume” and potentially not even acknowledge tactical setbacks, he said.
Why Blackwell Delay Shouldn’t Matter
The shift in the timing of Blackwell shipment doesn’t matter very much, as supply and customer demand have rapidly pivoted to H200, the analyst said. “Customer enthusiasm for Blackwell is at very high levels, but the ...
