Key Takeaways
- Microsoft and Nvidia shares advanced slightly Thursday morning to set fresh all-time highs.
- Nvidia jumped 4% yesterday as CEO Jensen Huang reportedly said at the company’s annual shareholder meeting that AI and robotics represented “a multitrillion-dollar growth opportunity.”
- Microsoft is in a “prime position for the upcoming GenAI innovation cycle,” Morgan Stanley analysts wrote as they lifted their price target.
Shares of tech giants Microsoft (MSFT) and Nvidia (NVDA) advanced slightly Thursday morning to set fresh all-time highs.
Nvidia stock surged more than 4% Wednesday to $154.31, pushing its market capitalization to $3.76 trillion to surpass Microsoft and once again become the world’s most valuable company. Microsoft’s market cap stands at $3.66 trillion after its shares rose 0.4% to close at $492.27.
Microsoft shares were up less than 1% shortly after markets opened Thursday, while Nvidia’s added 1%.
Nvidia’s shares jumped yesterday after CEO Jensen Huang reportedly said at the company’s annual shareholder meeting that AI and robotics represented “a multitrillion-dollar growth opportunity.” Microsoft, meanwhile, received fresh bullish comments from Wells Fargo and Wedbush analysts on its potential for growth.
Morgan Stanley analysts on Thursday lifted their price target for Microsoft stock to $530 from $482. They said that the company’s “prime position for the upcoming GenAI innovation cycle matched with solid execution is driving an acceleration in the Azure business, while best-in-class expense discipline supports our forecast” of mid-teens compound annual growth rate for Microsoft’s earnings per share.
Shares of the Magnificent Seven duo have rallied since indexes tumbled following President Trump “Liberation Day” tariffs announcement in early April and indexes are again approaching record highs.
UPDATE—This article has been updated with the latest share price information and comments from Morgan Stanley analysts.