Morgan Stanley has removed Nvidia from the top of its preferred semiconductor stock list while retaining an overweight rating and a $300 price target. The bank still expects Nvidia to outperform the market but now sees comparable or greater opportunities in other semiconductor stocks. Its analysis remains based on customer diversification, the transition to the Feynman architecture and a valuation it considers undemanding. The earnings assumptions and the $300 price target have not been formally changed alongside the ranking change.
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