Nvidia stock was edging lower Thursday, with investors in wait-and-see mode ahead of the chip maker’s earnings next week. Shares slipped 0.3% to $138.81 in premarket trading. Futures tracking the benchmark S&P 500 index were down 0.

Shutterstock The firm concluded that the DeepSeek selloff is a buying opportunity, and maintained Nvidia as a "Top Pick" with an overweight rating and $152 price target on the shares. While Morgan acknowledged that DeepSeek creates some headwinds around export controls and longer-term investment and that sentiment on Nvidia has worsened around potential longer-term risks,

The company is on the brink of clawing back all its losses from last month's dramatic selloff linked to DeepSeek's AI model.