大行评级丨小摩：英伟达绩后股价下跌反映投资者存在较高期望，目标价升至265美元

Core Viewpoint - Morgan Stanley's report indicates that NVIDIA's fourth-quarter performance ending January and first-quarter guidance ending April exceeded market expectations, with first-quarter revenue guidance surpassing general market forecasts by approximately $5 billion [1] Group 1: Financial Performance - NVIDIA's fourth-quarter results and first-quarter guidance are robust, with revenue guidance for the first quarter significantly higher than market expectations [1] - The gross margin guidance remains stable at a mid-high level of 74% to 75% [1] Group 2: Market Expectations - The stock performance reflects high investor expectations, driven by ongoing market interest in NVIDIA's data center business growth prospects for the coming year [1] - The company anticipates continued quarter-on-quarter revenue growth through fiscal year 2027, supported by strong demand for AI-driven computing [1] Group 3: Management Insights - Management has expressed confidence in growth prospects, citing positive discussions and progress in signing orders with customers [1] - The target price for NVIDIA has been raised from $250 to $265, maintaining a "buy" rating [1]