Friday the 13th on Wall Street: chip stocks sink, Apple hits a record
SummaryAMD fell about 9% and the chip ETF SOXX about 4% by midday Friday as the fallout from Jensen Huang's exit at Nvidia spread across AI hardware. Apple touched a record intraday high of $360.83.
· MODEL Editors · 1 min read
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What happened. AI hardware stocks sold off again on Friday, Nov. 13, the day after Jensen Huang stepped down as Nvidia's CEO. Reuters (opens in a new tab) tied the drop to fresh worries about AI financing after Huang's exit, with neocloud companies such as CoreWeave and Nebius among the hardest hit. Benzinga (opens in a new tab) described it as traders unwinding this week's move out of Nvidia and into rival chipmakers.
The numbers (Yahoo Finance quotes, as of 12:35 PM PT, vs. Thursday's close):
- $AMD: about $530, down about 9.4%. It had rallied for five straight sessions before Friday, per Reuters.
- $SOXX (iShares Semiconductor ETF): about $148.76, down about 4%.
- $NVDA: about $161.54, down about 2.8%.
- $AAPL: about $356.26, up about 0.4%, after touching $360.83 earlier in the session.
The Apple part. That $360.83 is the highest intraday price in Apple's trading history, per Yahoo Finance's full price history, and MarketSpeaker (opens in a new tab) reports it was the first time the stock crossed $360. It was an intraday high, not a closing price. So on Friday the 13th, the chips ran and the apple sat in a beach chair.
Why it matters for AI builders. Nothing about the tools you use changed today. What's moving is the market's confidence in how AI hardware gets paid for. Nvidia reports earnings on Tuesday, its first report without Huang as CEO, per Benzinga.
Prices move all day; these are snapshots, not closing prices. Not investment advice.
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Sources
- Neoclouds, AI stocks slide again as Nvidia turmoil rattles sector
Reuters via Investing.com
- Nvidia stock slips as investors digest CEO exit, broader chip sell-off accelerates
Yahoo Finance
- AMD Sinks 10.5% as Chip Rally Unwinds, Nasdaq 100 Falls 1.7%: Stock Market Today
Benzinga
- Apple Stock Breaks $360 for First Time as Value Tops $5.2 Trillion
MarketSpeaker
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