Nvidia shares reached a new record high amid rising expectations of a more accommodative Fed policy and declining Treasury yields following a weak U.S. jobs report. Morgan Stanley maintained its $300 price target on the stock and again named Nvidia its top pick among chipmakers. The company recently expanded its share buyback program by an additional $150 billion.

Morgan Stanley: $300 Target and Top Pick Status

The investment bank confirmed it continues to view Nvidia as a priority position among chipmakers and kept its target price at $300. Analyst support is providing investors with confidence as demand for the company’s products remains strong.

Nvidia Buyback Increased by Another $150 Billion

The company expanded its share repurchase program, adding $150 billion. The increased buyback signals a willingness to allocate significant funds to support the stock price and return capital to shareholders.

Weak Jobs Report Supports Tech Sector

Weaker U.S. labor market data has heightened expectations for a softer Fed stance and lowered Treasury yields, which has been a positive factor for technology stocks. Continued strong demand for AI infrastructure is also supporting the sector and driving growth for semiconductor manufacturers.