Morgan Stanley says one global stock is a 'key beneficiary of NVDA's AI opportunity.'
Artificial intelligence is gaining in popularity, but there's a "cheaper" way to play it, according to Morgan Stanley. The bank highlighted the DRAM business in semiconductors. It stands for dynamic random access memory — a type of semiconductor memory typically needed by a computer processor to function. "Memory is a cheaper way to play the start of AI's explosive new decade-long growth phase," Morgan Stanley analysts wrote in a May 29 note.
The bank maintained its overweight rating on SK Hynix and raised its price target for the stock from 110,000 Korean won to 140,000 Korean won. That represents potential upside of about 29%. BofA in a separate June 1 report also named SK Hynix as a top pick, saying it will benefit from Nvidia's push into AI. "SK Hynix is the only chipmaker that supplies HBM3 to NVIDIA, to our knowledge," said BofA, referring to the high bandwidth memory.
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