Nvidia stock falls for sixth week, losing $1.6 trillion in market value

Nvidia stock fell for a sixth consecutive week, losing 29% of its value and roughly $1.6 trillion in market cap since early October, its longest losing streak since 2012. The decline accelerated after CEO Jensen Huang resigned Thursday, dropping the company below Apple in valuation. Huang stepped down following public revelations of two extramarital affairs, one with an alleged Chinese spy and another with a company vice president. The board named finance chief Colette Kress interim CEO, and shares fell 4.3% Thursday, bringing weekly losses to 11%. Analysts expect a challenging transition, with D.A. Davidson cutting its price target to $200 from $300. Nvidia reports quarterly results Tuesday, with projected revenue of $108.9 billion, though Oppenheimer warns fundamentals may take a backseat to leadership uncertainty near term.