Nvidia Shares Decline Following HSBC Downgrade Amid CEO Transition Uncertainty
Nvidia (NVDA) shares closed down 2.01% at $162.85 following a downgrade from HSBC. Analyst Frank Lee lowered the price target from $375 to $170, citing leadership uncertainty after the resignation of CEO Jensen Huang and potential risks regarding international export regulations affecting roughly 11% of revenue outside the U.S. and Taiwan. The market reaction extended to the broader semiconductor sector, with Advanced Micro Devices (AMD) falling 8.75% and Broadcom (AVGO) dropping 4.76%. Investors are now pivoting their attention toward Nvidia's upcoming third-quarter fiscal 2027 earnings report on November 17, which will mark the company's first financial disclosure without Huang at the helm.
Tickers: $AMD $AVGO $HSBC $NVDA
Topics: AI hardware CEO resignation semiconductors stock downgrade
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