Nvidia Hits Record High, Wall Street Still Sees Up To 99% Upside
- Shares hit a new all-time intraday high of about $237.83, overtaking the previous May record.
- Analyst Joseph Moore restored Nvidia as the firm’s top semiconductor pick after meetings with CEO Jensen Huang and CFO Colette Kress.
- Morgan Stanley kept its Overweight rating and $300 price target, pointing to Nvidia’s new product cycle and growing demand from AI labs and agentic AI.
- A weaker-than-expected US jobs report pushed investors away from expectations for another near-term Federal Reserve rate hike.
What Happened
The wider market helped. A weaker-than-expected US jobs report pushed investors away from expectations for another near-term Federal Reserve rate hike. The Nasdaq also reached record territory.
That optimism still carries a high bar. Goldman Sachs has previously warned that expectations around Nvidia are elevated. Investors now need continued evidence that AI spending can support the valuation.
What Nvidia Investors Should Watch Next
November — Q3 earnings: Nvidia has not yet announced the exact date. Rubin demand, revenue guidance and margins will matter most.
Market Context
Why Nvidia Stock Price Surged to a Record High
Morgan Stanley kept its Overweight rating and $300 price target, pointing to Nvidia’s new product cycle and growing demand from AI labs and agentic AI.
Nvidia Stock Price Outlook from Wall Street Giants
The striking part is that the record price remains below nearly every major Wall Street target.
Why It Matters
Nvidia stock finally broke through on October 2. Shares hit a new all-time intraday high of about $237.83, overtaking the previous May record.
Details
The immediate catalyst came from Morgan Stanley. Analyst Joseph Moore restored Nvidia as the firm’s top semiconductor pick after meetings with CEO Jensen Huang and CFO Colette Kress.
Nvidia had another tailwind already in place. On September 28, the company added $150 billion to its share-buyback authorization, taking the remaining program to $235 billion.
Huang said the move reflected Nvidia’s “confidence in the long-term opportunity ahead.”
Recent analyst actions support those targets.
Across 61 analysts tracked by S&P Global, Nvidia’s average target is now $327.70. That implies roughly 40% upside from Friday’s close.
Rubin and Vera rollout: Morgan Stanley sees the new product cycle and agentic AI as major potential growth drivers.
AI spending: Microsoft, Amazon, Meta and other large customers need to keep pouring money into infrastructure.
The $235 billion buyback: Nvidia plans to execute the remaining authorization through fiscal 2028.
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