Nvidia's Sharp Share Fall Amid CEO Probe Seen as Opportunity to Buy
Dow Jones11-09
The investigation by Nvidia's board into reports that its Chief Executive Officer Jensen Huang has been a spying target after an affair with an executive suspected of working for Chinese intelligence is a personal rather than corporate crisis, says deVere's Nigel Green.
"Nothing about this weekend's news changes how many chips it sells or how badly the world needs them." Investors should look to Nvidia's sharp premarket fall as an opportunity to buy the stock, according to deVere. Nvidia's board has backed Huang. If the investigation clears the CEO, "the market is likely to move on quickly, and the discount on offer today will start to look like a gift," Green says.
Shares fall 5.45% premarket.
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