Summary
- Nvidia shares posted their worst weekly performance this week and erased nearly $1 trillion in market value after former CEO Jensen Huang resigned.
- With former CFO Colette Kress serving as interim CEO, Nvidia is due to report quarterly earnings on Nov. 17.
- Broadcom shares fell about 5%, and Rothschild Redburn downgraded the stock to 'neutral' from 'buy' and cut its price target to $398 from $595.
Forecast Trend Report by Period
Nvidia shares posted their worst weekly performance since April 2025 this week in the fallout from former Chief Executive Officer Jensen Huang's resignation. The stock closed 2% lower than the previous session on Nov. 13.
On Nov. 12, Nvidia at one point tumbled more than 10% shortly after the market opened. The company has shed nearly $1 trillion in market value so far this month.
Former Chief Financial Officer Colette Kress has taken over as interim CEO. Bloomberg reported that Nvidia has hired an outside search firm to look for a successor.
Nvidia is due to report quarterly earnings on Nov. 17. It will be the first earnings release under Kress's interim leadership.
Broadcom, another artificial-intelligence chip stock, also fell about 5% in regular trading that day. Rothschild Redburn downgraded the stock to neutral from buy amid questions over the durability of future earnings and growth. It also cut its price target to $398 from $595.
Rothschild Redburn said it has doubts about the sustainability of Broadcom's future earnings and growth. In its view, the market needs confidence that Google's push to develop its own custom chips, or ASICs, will not spread broadly.
The firm said Broadcom still has substantial upside if that overhang clears. But it does not expect that to happen soon, limiting the scope for a rerating versus peers in the near term.
Doohyun Hwang
