Nvidia stock slips as investors digest CEO exit, broader chip sector falls

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Nvidia (NVDA) stock slipped more than 2% on Friday as investors digested the exit of Jensen Huang as CEO of the AI chip heavyweight on the heels of reports of multiple affairs. The stock is expected to close out the week in the red, slipping below the $4 trillion market cap threshold. Following this week's selloff, some strategists point to a compelling valuation given its forward PE [price-to-earnings] ratio of 13, with revenue growing at 60% year-over-year. "We think the stock has support at $165 per share, and sentiment is extremely negative," said James Demmert, chief investment officer at Main Street Research, on Friday morning.