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Nvidia Stock Hits Record $237.88 on Morgan Stanley Top Pick

Yahoo Finance2 min read6 sources

Why did Nvidia stock hit a record high on Friday?

Nvidia (NVDA) stock rose 1.3% to close at $233.95 on Friday after hitting a record $237.88 on Morgan Stanley's top-pick call, pushing its value above $5.7 trillion.

Key numbers

Record intraday high$237.88Prior high $235.54; sources cite $237.55–$237.87
Market value$5.7TIntraday, largest of any company
Friday close$233.95+1.34% (per [1])
Forward P/E24.8xBroadcom 30.2x [6]
Added buyback$150B$235B total through fiscal 2028
September US jobs added29,000vs 90,000 expected

What happened

Nvidia (NVDA) stock rose 1.3% to close at $233.95 on Friday after hitting a record $237.88 on Morgan Stanley's top-pick call, pushing its value above $5.7 trillion. Morgan Stanley picked Nvidia as its favorite chip stock again after meeting CEO Jensen Huang, calling its price "undemanding" given expected growth. Nvidia's board also added $150 billion to its share buyback plan, so it will spend more buying its own stock. Only 29,000 jobs were added in September versus 90,000 expected, easing bets on a Fed rate hike and lifting the Nasdaq to a record.

Why it matters

Nvidia is among the world's largest companies at about $5.7 trillion, so its moves can sway many index funds and retirement accounts. Morgan Stanley's call suggests big analysts still see room for growth after the climb. Nvidia trades at about 24.8 times expected profits, cheaper than Broadcom at 30.2 times, a common way to judge how expensive a stock is (P/E).

Who this affects

Marketbullish
Medium impact
Stock investors gain as the Nasdaq hits a record.
Companybullish
High impact
Nvidia shareholders gain from record price and bigger buyback.
Competitorsmixed
Medium impact
AMD and Broadcom rose about 3%, but trail on size.
Industrybullish
Medium impact
AI chip makers benefit as data-center spending stays strong.

Nvidia vs AMD, Broadcom

NvidiaNVDA$5.7T+2%24.2x
AMDAMD—+3%—
BroadcomAVGO—+3%30.2x

As of 2026-10-02

How we got here

  1. Morgan Stanley restores Nvidia as top semiconductor pick after meetings with CEO Jensen Huang

  2. US payrolls rise just 29,000 versus 90,000 expected, cooling Fed rate-hike bets

  3. Nvidia and the Nasdaq Composite both hit intraday records; Nvidia closes at $233.95

What to watch

  • Whether Nvidia reaches $6 trillion in market value, about $300 billion above Friday's peakQ4 2026
  • Whether the Federal Reserve holds interest rates after the weak September jobs report2026-10

Educational content only. Not investment advice.

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