The recent dip in tech attracted dip buyers, particularly in semiconductor stocks, with Nvidia soaring more than 7% after Morgan Stanley said the recent dip in the chipmaker was a buying opportunity.
The vote of confidence from Morgan Stanley comes even as concerns linger about bloated inventory and waning demand for chips amid an economic stumble in China. But rising demand for AI is likely to boost data center spending, Morgan Stanley adds, bolstering Nvidia’s growth.
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