Morgan Stanley on NVIDIA (NVDA): 'the Blackwell ramp appears to be quite strong'

Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and $150.00 price target on NVIDIA (NASDAQ: NVDA)

The analyst comments "In the shorter term, the Blackwell ramp appears to be quite strong, with no major changes to the roadmaps and every indication that business remains robust with very high forward visibility, in line with all of our checks. Issues with initial Blackwell silicon are now totally behind us. Management did give some color on the initial ramp issues with Blackwell; the first version of silicon was functional, but had very low yields; importantly, the yield problems were mostly discovered post packaging, which meant that scrapped product would require a loss of CoWoS and HBM3e, both overall supply constraints at the moment. But those issues are behind the company and there is high conviction in prior guidance that they will have several billion in Blackwell revenue in the January quarter. Any new Blackwell orders now that aren't already in queue will be shipped late next year, as they are booked out 12 months or so, which continues to drive strong short term demand for Hopper which will still be a major factor though the year. While there was no new short term revenue or margin commentary, this view obviously portends continued high growth in shipment trends through the year."

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $132.65 yesterday.

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