Morgan Stanley remains bullish on Nvidia (NVDA) stock despite growing concerns about an AI bubble. Analyst Joe Moore raised his price target on the chipmaker to $250 from $235, implying roughly 39% upside from current levels. The price hike comes as prominent investor Michael Burry intensifies his warnings that the AI investment boom mirrors the dot-com crash of the early 2000s.
Burry recently launched a Substack newsletter called "Cassandra Unchained" to detail his bearish AI thesis. He argues that Nvidia today occupies the same precarious position that Cisco (CSCO) held in 1999 and 2000, serving as the key hardware supplier during a massive capital spending cycle built on overly optimistic assumptions.
