BofA removes Lam Research, Micron, Nvidia from US 1 list

Nvidia (NVDA) shares dropped 3% after Citi reduced its price target to $285 from $315, citing potential lower margins due to high-bandwidth memory costs. Analyst Atif Malik maintained a Buy rating, expecting modest EPS growth and reiteration of 70% YoY revenue growth for fiscal 2028. Key investor concerns include order visibility, supply constraints, and CEO Jensen Huang's investigation. Nvidia reports Q3 fiscal 2027 earnings on November 17, 2026.

Goldman Sachs believes the semiconductor selloff has been excessive, highlighting Nvidia (NVDA), Broadcom (AVGO), and AMD (AMD) as attractive investment opportunities. The firm notes that these stocks are now in oversold territory, with compelling valuations even under pessimistic scenarios. The call comes after a significant market downturn, with the Philadelphia Semiconductor Index down 21% over the past month.

Nvidia (NVDA) shares fell 5% after CEO Jensen Huang's affair with a suspected Chinese spy was revealed. The FBI and Justice Department are investigating. The stock is near its 52-week low, and earnings are due next week. Huang apologized, and the company is also probing the matter.

NVIDIA (NVDA) faces allegations that CEO Jensen Huang's relationship helped move $7.5B in chips to China, per The Information. Shares fell 5.54% Tuesday, extending weekly and monthly declines. NVIDIA denies significant China data center sales, but the report suggests a potential compliance gap. The company's board has launched an internal investigation. Q2 revenue grew 105.85% YoY to $96.221B, with Q3 guidance at $108B. Competitors AMD and Amazon may benefit from NVIDIA's challenges.

Nvidia CEO Jensen Huang admitted to an affair with Alice Huang, a Megaspeed executive suspected by U.S. officials of being a Chinese spy. Megaspeed, a Singapore-based AI firm, purchased $4.8 billion in Nvidia chips. The U.S. and Singapore investigated Megaspeed for potential illegal chip sharing with China. Nvidia shares fell over 5% after the news. The Nvidia board is investigating, and three Republican committee chairmen requested a closed-door briefing with Huang.

CNBC Investing Club discussed market trends, downgrading Nvidia to a hold due to uncertainty around CEO Jensen Huang's investigation. Jim Cramer noted oil price drops may ease inflation, potentially limiting Fed rate hikes. He also expressed interest in adding to Constellation Brands position but awaits a stock decline.