Morgan Stanley Reiterates Overweight on NVIDIA (NVDA), Sets $288 Target, Calls Vera Rubin Key to AI Dominance

Morgan Stanley analyst Joseph Moore on June 5, 2026, reiterated an Overweight rating and $288 price target on NVIDIA, affirming the chipmaker’s 85% share of the AI chip market remains intact over the past two years. The firm highlighted the next-generation Vera Rubin platform as the core factor behind NVIDIA’s near-monopoly position. Moore said the 12-month target is derived from a 22 times multiple on a projected 2027 earnings per share of $13.08. He noted NVIDIA’s proprietary CPU is purpose-built for AI workloads, delivering a highly integrated system-on-a-chip that establishes formidable competitive moats. The bank’s checks with major clients suggest NVIDIA’s $20 billion server CPU revenue guidance for the year, though seemingly aggressive, is backed by massive shipment scale, potentially challenging industry leaders. Relative to peers Advanced Micro Devices, Broadcom, and Intel, NVIDIA’s valuation still offers a discount, Moore said, though limited room for further sharp near-term share price gains exists given already high market share and margins.