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Nvidia stock has another 23% upside and the success of Blackwell will be the chipmaker's big story of 2025, Morgan Stanley says
- Morgan Stanley said other noise would fade by mid-2025, and the stock is poised for another 20% gain.
- Nvidia's Blackwell chip will be the company's biggest story in 2025.
- Morgan Stanley reiterated its "overweight" rating on Nvidia stock and said the chipmaker remained its "top pick" going into next year.
- The bank issued a price target of $166 a share, implying a 23% increase from where the stock was trading on Friday around $134.82.
- Investors are already feeling bullish about the Blackwell chips, which are expected to launch in early 2025.
- Nvidia's new chip could dispel a handful of near to medium-term anxieties investors have about the stock.
- Concerns about Blackwell's rollout should "completely disappear" by the second half of next year.
- Even after a 170% rally in 2024, forecasters are still generally bullish on Nvidia going into next year.
- The continued excitement around the AI trade in the stock market is among the top themes investors see shaping the stock market in 2025.
- Nvidia's next-gen artificial intelligence-enabling chip will be a driving force behind revenue in H2'25, which could mean significant upside for the stock.
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