Nvidia (NVDA) shares are inching up ahead of the company’s annual GTC conference, where its chief executive, Jensen Huang, is delivering a keynote address. At the time of writing, NVDA is trading just below its 50-day moving average (MA) at the $185 level — a decisive break above which could accelerate bullish momentum in the near term.
Versus its year-to-date low, Nvidia stock is currently up about 7%.
Why Does the GTC Conference Matter for Nvidia Stock
The annual GTC conference is often dubbed the “Woodstock of AI” — and for good reason, too.
In 2026, investors are laser-focused on the roadmap for the Vera Rubin architecture, the successor to Nvidia’s Blackwell chips, which promises to redefine inference capabilities.
NVDA shares are extending gains this morning as GTC has historically served as a platform for the artificial intelligence titan to showcase its full-stack dominance, spanning from chips to the CUDA software ecosystem.
If Huang offers concrete timelines for the Rubin ramp today or announces new enterprise-grade AI factories, it may provide the fundamental spark needed to drive the firm’s stock price above its current technical resistance.
Morgan Stanley Recommends Buying NVDA Shares
Heading into the GTC conference, Morgan Stanley analyst Joseph Moore reinstated Nvidia as his top semiconductor pick — maintaining an “Overweight” rating and a $260 price target.
According to Moore, hyperscaler demand is locked in through 2026, with clients increasingly shifting focus toward the upcoming Rubin platform.
In his research note, Moore dubbed the current price a “surprisingly good entry point,” noting the market is underestimating NVDA’s dominant 85% share and long-term earnings durability.
Despite the recent surge, Nvidia shares’ relative strength index (14-day) sits at about 50 at the time of writing, reinforcing that the upward momentum is not near exhaustion yet.
Nvidia Remains a Wall Street Darling in 2026
Other Wall Street analysts agree with Moore’s constructive view on Nvidia for the remainder of 2026 as well.
According to Barchart, the consensus rating on NVDA stock sits at “Strong Buy,” with the mean target of roughly $266 indicating potential upside of more than 45% from here.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
