On November 3, Nvidia’s CEO Jensen Huang unexpectedly resigned amid allegations related to personal misconduct, raising concerns about the company’s future and the broader AI sector. Colette Kress, previously the Chief Financial Officer, has been appointed as interim CEO. Before the resignation, analysts had been forecasting Nvidia’s third-quarter sales growth at approximately 91% and earnings growth at 90%.
Investor Louis Navellier, who decided not to include Nvidia in his newly launched 25-stock portfolio, noted shifting market dynamics and is now watching other sectors for investment opportunities. According to market data, while healthcare stocks have seen a six-month return of +22.96%, technology stocks are down -2.86% during the same period, indicating a broader rotation within the market.
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