Nvidia Shares End Nov. 6 Week Lower Ahead of Fiscal Third-Quarter Results

Nvidia shares ended the week of Nov. 6 lower amid a broader decline in U.S. technology stocks, adding to the chipmaker’s recent losses before its fiscal third-quarter results on Nov. 17.

The decline followed October, Nvidia’s worst month for share performance this year. The stock rose 3.11% to $208.34 in early U.S. trading Nov. 3, when the company’s market value reached $5.02 trillion.

In early trading Nov. 5, Nvidia shares were down 4.11%. Those readings capture separate points during the week, while the weekly decline reflects trading through Nov. 6.

Nvidia’s most recent financial results showed fiscal second-quarter revenue of $96.2 billion, up 106% from a year earlier. The company forecast fiscal third-quarter revenue of $108 billion, plus or minus 2%, and assumed no data center computing revenue from China in that outlook.

Nvidia is scheduled to release its fiscal third-quarter results on Nov. 17.