Nvidia Shares Head for Sixth Straight Weekly Loss Ahead of Results

Nvidia shares are on course for a sixth straight weekly decline, their longest such losing streak since 2012, as the chipmaker heads into next week's quarterly results.

Shares fell 11% through Thursday's close, including a 4.3% drop in Thursday's session. The 11% weekly loss is separate from the 29% decline since early October. That broader retreat has erased about $1.6 trillion from Nvidia's market value, and Apple has overtaken Nvidia in market capitalization. The $1.6 trillion loss spans the decline since early October, not the current week's move.

Co-founder and CEO Jensen Huang resigned Thursday. Nvidia's board appointed Chief Financial Officer Colette Kress interim CEO while searching for a permanent successor.

Nvidia plans to release quarterly results Tuesday, Nov. 17. Analysts expect revenue of $108.9 billion, up 91% from the same quarter a year earlier. The forecast calls for growth even as Nvidia's stock and market value have declined.