Nvidia (NVIDIA Corporation, NASDAQ: NVDA) shed 30% of its market value during a historic six-week losing streak, dropping below Apple (Apple Inc., NASDAQ: AAPL) as the executive transition following Jensen Huang’s departure collides with broader macroeconomic headwinds.
Nvidia Shares Fell 13% as Jensen Huang Resigned
- Nvidia shares fell 13% this week, marking the steepest weekly decline since April 2025.
- The chip giant lost roughly $1.7 trillion in market capitalization during its sixth weekly drop, the longest losing streak since 2012.
- Chief Financial Officer Colette Kress stepped in as interim CEO following the resignation of long-time leader Jensen Huang, just days before a critical quarterly earnings report.
Jensen Huang Resigns Amid Leadership Crisis
Luria lowered his price target to $200 from $300, but maintained his buy rating.
“We believe the market has appropriately adjusted for this transition,” he wrote.
Midterm Elections and Interest Rates Pressured Nvidia Shares
Last week, prior to Huang’s departure, Nvidia shares dropped about 9%.
While Nvidia is wildly profitable, big customers like neoclouds are reliant on the debt markets.
Analysts Project Revenue Growth Ahead of Kress's Quarterly Report
Heading into next week, the pressure is on Kress. Nvidia is scheduled to report quarterly results on Tuesday, with analysts projecting 91% year-over-year revenue growth to $108.9 billion, according to LSEG data.
“The departure of Mr. Huang could, in our view, translate to a lingering share overhang,” they wrote.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
Earlier coverage: Nvidia CEO Jensen Huang Resigns Following Reports of a Second Affair
