Nvidia slips below Apple as six-week slide erases $1.6T

Nvidia closed out a sixth consecutive weekly decline, the longest such run since 2012. About $1.6 trillion in market value has been wiped out over that stretch, and the company has fallen below Apple in overall market capitalization.

The slide reflects a wider investor rethink of AI infrastructure spending, with market participants reassessing what Nvidia's growth is actually worth. CEO Jensen Huang is also facing heightened scrutiny as that debate plays out. Prediction markets tied to the stock price have been moving alongside the shares, with traders circulating contracts on where NVDA lands in November 2026.

Nov. 17 is the next hard checkpoint, when Nvidia reports earnings and gives the market fresh numbers on its financial health and growth prospects. Crypto Briefing notes that any change in AI-capex guidance from major tech players like Microsoft or Amazon could shift how investors see the company. Policy developments on U.S. export controls covering Nvidia products are another factor that could move pricing scenarios.

Market participants are tracking those two threads for signals pointing either toward a recovery or further decline in the stock.