Nvidia Smashes Record High as Morgan Stanley Names It Top Semiconductor Pick
Nvidia has reached an all-time high price of $237.87, pushing its market value to approximately $5.7 trillion.
The company's share price has increased by nearly 14% since September 14, rising from $208.93 to the current record high.
Morgan Stanley named Nvidia its 'Top Pick' in the global semiconductor sector and raised its confidence in a $300 price target, citing strong demand for AI infrastructure and limited data center space, power, and funding as challenges for the industry.
Nvidia also expanded its share buyback plan by $150 billion, taking its remaining authorization to $235 billion through fiscal 2028.
Crypto trader Ali Martinez is warning of a possible pullback or breakout, noting that the price has reached the top of a six-month price channel and may be meeting resistance.