Nvidia CEO out — 10 stocks to buy before S&P 500 hits 8,000

Resumen detallado

Nvidia (NVDA) is down over 30% from the highs with CEO Jensen Huang stepping down, yet Blanke Schein Wealth Management CIO Robert Schein says the stock is still a buy. He also names Broadcom (AVGO), Apple (AAPL), and Eli Lilly (LLY) among his top picks before the S&P 500 reaches 8,000.

Caroline Woods: Joining me now, Robert Schein chief investment officer of Blanke Schein Wealth Management. Robert, great to have you here at the good.

Caroline Woods: All right. So big day today. And Jensen Huang is out. And Nvidia (NVDA) the stock was plunging down about 5% right now. Do you look at this as a temporary leadership shakeup or is the fundamental story changing for Nvidia (NVDA) here.

Robert Schein: Well let's be honest. This is as a month ago, the largest company in the world. Right. So this isn't a little story. This is the story. And so what we're seeing today, especially with the market basically trading down. And Nvidia (NVDA), it's a market clearing event for the stock because there's a lot that still is going to come out.

Robert Schein: We believe that on the stepping down wood Jensen did was the right thing to do. Because where there's smoke, there's fire and this thing is going to get drawn out further and further. So to for the for the greater good of the company moving forward. There's 42,000 employees. Again, the most valuable company at the core of the AI buildout I think unfortunately, as as terrible as this whole situation has been playing out right now, live real time.

Robert Schein: You can't make this up. This is like a made for TV movie, unfortunately. But that being said, for the greater good of the company, and the guidance moving forward, it's a market clearing event and investors, if you're not. And I couldn't imagine most, if not all have exposure by way of the indices or the individual stock itself.

Robert Schein: But yeah, it's giving investors a ride for their money right now. So it's interesting.

Caroline Woods: It's a market clearing event. Do you look at Nvidia (NVDA) more than 30% off the highs as a huge buying opportunity though. Or is this a turning point for the company.

Robert Schein: You know I think the leadership succession plan that they have in place right now, is Nvidia (NVDA).

Robert Schein: Right. They're jumping the…

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