Paul Meeks says he’s buying Nvidia shares with “both hands” despite CEO Jensen Huang’s resignation , because the decline amid this unfolding scandal has brought the stock down to “stupid” valuation levels. The Freedom Capital head of technology research noted that the stock is trading at just 10 times fiscal 2028 earnings estimates after Thursday’s decline. Nvidia shares are off 20% in November alone, pressured by the scandal unfolding. “I think that the actual announcement of his resignation is a market-clearing event,” said Meeks. (See the video above for Meeks’ full breakdown.) Other key points from Meeks: Even if the U.S. government further restricts Chinese sales, he and other analysts didn’t have much revenue from that country in their earnings models anyway. Interim CEO Colette Kress is “is a rock star” so the company won’t “miss a beat.” He believes the best money to be made in tech investing in times like these is to be a contrarian.
