Nvidia's stock is stuck. Morgan Stanley says it's time to buy again

March 2, 2026

TL;DR

Morgan Stanley reiterates an overweight rating and $260 price target on Nvidia, viewing its current stock price as an attractive entry point.
Nvidia is named Morgan Stanley's top semiconductor pick, replacing Micron Technology.
The bank anticipates sustained hyperscaler investment in Nvidia's AI chips, with no peak expected in 2026.
Demand for Nvidia's upcoming Rubin product is expected to remain robust.
Morgan Stanley believes Nvidia will address market share concerns at its GTC AI conference and could demonstrate a strong product roadmap.
Easing supply constraints on AI processors could lead to market share reacceleration for Nvidia.

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