Nvidia Shares Plunge Amid Reports of CEO Leadership Turmoil and Apple Gains Approval in China
Nvidia (NVDA) shares fell 8% in extended trading following reports from The New York Times and The Wall Street Journal regarding personal conduct allegations against CEO Jensen Huang and potential board action to remove him. This news has contributed to a 20% decline in the stock over the past week, significantly impacting sentiment within the semiconductor sector. In contrast, Apple (AAPL) reached new highs following regulatory approval for 'Apple Intelligence' on iPads and Macs in China. Despite trading at a premium of 39 times earnings, strong fundamentals and increasing demand for upcoming hardware products continue to drive momentum. Other market attention is focused on upcoming earnings reports from Cisco Systems (CSCO), Applied Materials (AMAT), and Cerebras, alongside volatility in Nebius and Burberry.
Tickers: $AAPL $AMAT $CSCO $NBIS $NVDA
Topics: Board of Directors CEO scandal Regulatory approval Stock price volatility
Part of the story Nasdaq-100 Futures Decline Amid Reports of Potential Nvidia CEO Ouster (4 articles)