After NVIDIA Corporation (NVDA.US) plunged 32%, Goldman Sachs Group, Inc. invoked the old Apple Inc. precedent, and Fundstrat even loudly called to "buy the dip."

Notice that Jensen Huang's abrupt departure has pushed NVIDIA Corporation (NVDA.US) to a crossroads. On Thursday, the stock fell as low as $148.80 intraday, hitting a new low since June 2025, and traded around $164.70 in the afternoon, down about 5% on the day and about 32% below its all-time high of $243.37 set on October 6. Amid the panic, some fled for the exits; but on Wall Street, there were also voices firmly on the "buy" side. Goldman Sachs Group, Inc.: Using Apple Inc. to "fortune-tell" for NVIDIA Corporation Analysts at Goldman Sachs Group, Inc. noted in a recent report that few tech companies have experienced the sudden departure of a decisive, visionary founder, and Apple Inc. is one of the clearest cases. After Steve Jobs took an extended medical leave in early 2011 and subsequently passed away, Apple Inc.'s forward P/E compressed from about 17x to about 12x within 18 months, briefly falling below 9x in 2013; only when the market regained confidence in the execution of the iPhone and surrounding businesses did the valuation recover to close to 15x. Goldman Sachs Group, Inc. stressed that the two are not entirely comparable, but both possess technological leadership and a durable moatimplying that NVIDIA Corporation's valuation multiple may remain "up in the air" until the succession arrangement and business momentum become clear. From a fundamental perspective, however, Goldman Sachs Group, Inc. forecasts CY2027 EPS of $16.70, above the Wall Street consensus of $15.91, corresponding to a forward P/E of about 9.6x; combined with an expected EPS growth of about 80%, Goldman Sachs Group, Inc. judges that the current price already presents an attractive risk-reward ratio. Fundstrat directly calls: "Buy the dip" Compared with Goldman Sachs Group, Inc.'s milder "digestion period" thesis, Tom Lee of Fundstrat Global Advisors is more bluntinvestors should "buy the dip in NVIDIA Corporation." Lee believes that even if Jensen Huang resigns, NVIDIA Corporation will remain the most important company in the world, and this decline is an entry opportunity rather than a reason to exit. He firmly believes that NVIDIA Corporation's long-term strategic importance will not be weakened by a leadership change. This stance forms a sharp contrast with the panic in the market. Consensus hides beneath disagreement. Interestingly, although Goldman Sachs Group, Inc. and Tom Lee differ in the calmness of their wording, they point in the same direction: NVIDIA Corporation's core value has not collapsed because of Jensen Huang as an individual, and the decline is more a repricing of sentiment and valuation than a reversal of fundamentals. The real disagreement is only about timingGoldman Sachs Group, Inc. implies that valuation repair will take time, while Tom Lee believes "now is the opportunity." For investors, this selloff poses a classic question: when a company's "soul figure" leaves, should you look at the person, or at the computing power, moat, and orders the company holds in its hands. The answers from Goldman Sachs Group, Inc. and Fundstrat both point to the latter.