NVIDIA's stock price may set the longest weekly decline since 2012, with a market value evaporating by $1.6 trillion

As of Thursday's close, Nvidia's stock price has fallen 11% this week, heading towards a sixth consecutive week of decline, which may set the longest losing streak since 2012. Since the beginning of October, Nvidia's market value has shrunk by about $1.6 trillion, with the stock price down 29% cumulatively, and its market value surpassed by Apple. On Thursday alone, Nvidia's stock price dropped by 4.3%.

Nvidia co-founder Jensen Huang resigned on Thursday after two extramarital affairs were made public, one involving a person identified as a Chinese spy and the other involving Nvidia's Vice President of Medical Business. The board has appointed Chief Financial Officer Colette Kress as interim CEO and is searching for a formal successor. Nvidia plans to announce its quarterly results next Tuesday, with LSEG data showing analysts expect its revenue to grow by 91% year-over-year to $108.9 billion.