Nvidia Slides 2.7% Pre-market After Iran Escalation; $260 Target Set
Pre-market Nasdaq futures fell 2.1% as Iran conflict escalates, dragging Nvidia shares 2.7% lower. Morgan Stanley reinstated Nvidia as its top semiconductor pick with an Overweight rating and a $260 price target ahead of its March 16 GTC developer conference.
1. Market Impact of Iran Conflict
Futures for the tech-heavy Nasdaq were down 2.1% ahead of Tuesday’s open as rising tensions in the Middle East prompted broad risk-off selling, pushing Nvidia shares down 2.7% in pre-market trading.
2. Morgan Stanley Reinstates Top Pick
Morgan Stanley elevated Nvidia to its top semiconductor pick, replacing Micron Technology, maintained an Overweight rating and set a $260 price target, reflecting confidence in the company’s AI processor leadership.
3. GTC Conference and Supply Outlook
Nvidia’s GTC developer conference is scheduled for March 16–19 with CEO Jensen Huang delivering a keynote on the company’s multiyear product roadmap, while easing supply constraints on AI processors may support higher shipments in 2026.