Morgan Stanley, UBS and HSBC call last week's AI selloff overdone, point to Anthropic IPO and Nvidia earnings

Nov 9, 2026
Wall Street brokerages say concerns about AI regulation have weighed too heavily on technology stocks, with Anthropic's IPO and Nvidia's earnings expected to have more influence in the coming weeks.

Morgan Stanley and UBS say last week's AI stock selloff was overdone, Channel NewsAsia reports. The brokerages argued that markets had placed too much weight on the risk that a Democratic-controlled Congress would impose severe restrictions on data center construction.

The firms pointed to the planned IPO of Anthropic and Nvidia's November 17 earnings as events likely to have more influence on AI stocks. Nvidia is expected to report data center revenue growth of more than 12 percent from the previous quarter.

Morgan Stanley recommended buying after the decline and remained positive on Amazon, Meta, Alphabet, Nvidia and Broadcom. HSBC said it was increasing its exposure to US and Asian technology stocks and called Anthropic's IPO the main catalyst in the coming weeks, while Jefferies described the November 5 decline as a market reaction rather than a change in company fundamentals.

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