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Morgan Stanley reinstated Nvidia (NVDA) as its top pick in the semiconductor sector, with analysts highlighting how multiple AI trends play to the company's strengths following meetings with CEO Jensen Huang and CFO Colette Kress.
Morgan Stanley renamed NVIDIA as a top pick.
U.S. stocks slid at midday Wednesday as the 10-year Treasury yield surged to its highest level since 2007, after blowout September PMI data cemented bets for another Federal Reserve rate hike and sent traders scrambling out of richly valued growth names. The yield on the 10-year Treasury note jumped 12 basis points to