NVIDIA rebounds after three days... “The company will be fine even if Huang leaves(?)”

[Financial News]  

NVIDIA shares rebounded on the 11th (local time), their first gain in three days.
After plunging nearly 10% over two days amid an affair scandal involving CEO Jensen Huang and a “Chinese spy,” the stock surged 2.9% that day.
Citing analysts’ assessments, Yahoo Finance pointed to the belief that the company would be fine even if CEO Huang resigned as the reason behind the rebound.
In an analysis note, The Kobeissi Letter said, “At this point, the market has already priced in two major headwinds: first, the growing likelihood that Jensen Huang will be ousted as CEO; and second, the possibility that sensitive NVIDIA technology or information may have leaked.”
NVIDIA’s board hired the law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation into the matter. Attorney Jun Kim, a former acting U.S. attorney for the Southern District of New York, will lead the investigation.
Dan Niles, founder of Niles Investment Management and a longtime technology stock investor, said NVIDIA’s business would remain strong even if CEO Huang stepped down.
In an interview with “Sochi Unleashed,” Niles said, “Huang has built a strong bench of talent, and you can see that by looking at what happened to Apple after Steve Jobs left.” He asked rhetorically, “Did Apple collapse?” and predicted, “If Huang leaves, a successor will be named, and the board will see it through, allowing NVIDIA to keep moving forward.”
Niles went on to assert, “Like Apple after Steve Jobs, NVIDIA has a pipeline of next-generation products that will lead the company for years to come. It’s true that CEO Huang is very important to the company, but those two things can coexist.”
[email protected] Song Kyung-jae Reporter