HSBC Slashes NVIDIA Target to $170 as Senate Calls Huang on Export Controls
NVDA is trading near its 52-week low of $148.8 (8.2% above the low) on elevated volume (2.5× avg).
Summary
HSBC cut NVIDIA to Hold from Buy and dropped its price target to $170 from $365, citing uncertainty around the CEO transition after Jensen Huang's resignation. The Senate has asked Huang to testify on export controls and how Megaspeed obtained access to NVIDIA's high-end chips, and Bloomberg reported restricted chips reached a Shanghai data center through Singapore-based partner Aperia Cloud Services. The stock closed at $166.19 on Nov. 12 after a 14% intraday drop and is down roughly 13% for the week, with CFO Colette Kress now interim CEO. The export-control thread is the real risk: tighter curbs could cut fiscal 2028 earnings estimates by 13%, per HSBC.
At the time of this announcement, NVDA was trading at $161.01 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.9T. The 52-week trading range was $148.80 to $243.37. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.