Nvidia on track for longest weekly losing streak since 2012 as market value sinks by $1.6 trillion

BREAKING: Nvidia on track for its longest weekly losing streak since 2012, with its market value sinking $1.6 trillion, a 29% drop over six weeks, after Jensen Huang's shock resignation, falling below Apple in the process. $NVDA

Nvidia has lost one point six trillion dollars in six weeks.

The stock is heading for its sixth straight weekly decline, the longest losing streak since 2012, down 29 percent over the stretch. Shares fell another 4.3 percent on Thursday alone, bringing this week's loss to 11 percent, and along the way Nvidia slipped below Apple in market value. A company that spent most of the year as the most valuable on earth just gave up the crown.

The trigger was Jensen Huang's resignation after 33 years, following two affair scandals in a single week. Finance chief Colette Kress now runs the company on an interim basis, and her first test comes fast. Earnings land on Tuesday, with analysts projecting 91 percent revenue growth to nearly 109 billion dollars.

Oppenheimer's view is blunt. Even solid numbers may not matter, because fundamentals have taken a backseat to the man who just walked out the door.

This is Sara White, reporting for HIT.