Nvidia Stock Trades Cheaper Than the S&P 500, and Looks Even More Like a Value Play

Nvidia stock slipped again Wednesday, with a valuation currently lower than that of the benchmark S&P 500 index. The chip maker isn’t immune to the semiconductor sector’s woes, but its impressive cash returns mean it could eventually find a floor as a value stock. The stock is down 7.8% over the past month through Tuesday’s close, even though Nvidia posted a strong earnings report last month and showed off new hardware at the Computex conference in Taiwan last week.