Stephanie Link Shifts AI Allocation from Nvidia to Micron Technology Following CEO Resignation
Hightower Advisors Chief Investment Strategist Stephanie Link has exited her position in Nvidia (NVDA) following the sudden resignation of CEO Jensen Huang. While acknowledging Nvidia's strong fundamentals and projected $300 billion in free cash flow for next year, Link cited leadership instability and ongoing investigations surrounding Huang's personal conduct as significant headwinds that will prevent the stock from trading on its financial merits in the near term. Link is reallocating capital into Micron Technology (MU), noting that the memory chipmaker offers a 'clean story' and attractive valuation compared to the current volatility at Nvidia. While Nvidia's stock has tumbled 12% this week due to the leadership crisis, Micron has seen a 14% gain during the same period. Link remains open to re-entering Nvidia should the company stabilize with new leadership.
Topics: Artificial Intelligence CEO Resignation Corporate Scandal Stock Market Volatility
Part of the story Micron Shares Decline Following Resignation of Nvidia CEO Jensen Huang (5 articles)