Morgan Stanley analyst Joseph Moore wrote Thursday that "gaming data points remain mixed" for Nvidia Corp. NVDA, -2.37% amid the disappearance of the company's cryptocurrency business. "We wouldn't expect near term upside from gaming, but still like the stock," he said. Moore's note comes after tech reviewers weighed in on the company's new gaming products. "As review embargos broke for the new gaming products, performance improvements in older games is not the leap we had initially hoped for," Moore wrote. "Still, new features such as ray tracing and DLSS [deep learning super sampling] will matter more longer term." He rates the stock at overweight with a $273 price target. Shares are down 1.6% in premarket trading, though they're up 46% over the past 12 months. The S&P 500 SPX, +0.73% has gained 16% in that time, as the PHLX Semiconductor Index SOX, +1.07% has risen 19%.
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