Morgan Stanley Replaces Micron with Nvidia as Top Pick, Stifel Sets $550 Target
Morgan Stanley shifted its top chip pick from Micron to Nvidia and Stifel’s Brian Chin set a $550 price target, implying 33.4% upside. Consensus Buy rating carries an average 12-month target of $358, while HBM competition concerns have driven a 5.3% drop over 21 trading days.
1. Morgan Stanley Changes Top Chip Recommendation
Morgan Stanley removed Micron as its lead semiconductor pick, elevating Nvidia based on stronger AI and GPU growth forecasts.
2. Stifel Nicolaus Lifts Price Target to $550
Brian Chin upgraded Micron’s twelve-month price target to $550, signaling confidence in a memory market rebound and implying 33.38% upside from current levels.
3. Analyst Ratings and Price Target Updates
Thirty-eight firms maintain a Buy consensus with an average target of $358; Royal Bank of Canada initiated Outperform at $425, HSBC raised its objective to $500, and KeyCorp boosted its price goal to $450 with an Overweight rating.
4. Stock Decline Driven by Competition and Oversupply Concerns
Shares have fallen 5.3% over the past 21 trading days amid intensifying HBM competition and cyclical oversupply risks; the stock traded between $401.20 and $417.91 today, with a 52-week range of $61.54 to $455.50 and a market cap of $464.13 billion.