Morgan StanleyMS
Mentioned
Impact on stocks 2
Financials
Morgan StanleyArtificial Intelligence
NVIDIA CorporationNVDA
Mentioned
Morgan StanleyNVIDIA CorporationMorgan Stanley Chief Investment Officer Michael Wilson warned that the semiconductor rally may be nearing a cyclical peak, likening it to a commodity rotation fueled by Federal Reserve money printing. Wilson noted that the semiconductor index has tracked silver stocks with a four-month lag, and with the iShares Silver Trust down over 35% since early March, chip stocks could face a summer cooldown. He pointed to NVIDIA's slowing sequential guidance growth and an 8% monthly share decline as signs of a pause within a long-term AI bull market. Wilson remains structurally bullish on AI infrastructure spending through the end of the decade but sees the current cycle closer to its peak than its start.
Morgan StanleyNVIDIA Corporation