Key Takeaways Advanced Micro Devices is set to report fourth-quarter earnings after the closing bell Tuesday.Its stock has taken a hit, losing over a third of its value in the past 12 months amid concerns about the company's outlook and ability to compete with Nvidia's offerings.

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,