Nvidia Looks Like a Value Stock Even as Earnings Scream Growth

Nvidia Corp. has one of the strongest growth stories in the market after posting blowout earnings on Wednesday. So why is it trading at a level that looks like a value stock?

The chip giant’s shares sank 5.5% Thursday, their worst day since April 16, dragging down the entire S&P 500 Index with them. It added to the selloff with a 2% drop on Friday. The two-day drop has erased about $360 billion off its market capitalization.