NVIDIA's peer-adjusted return was -4.7% on the study's event day. CNBC reports “Nvidia's board is meeting to decide whether to oust CEO”; that describes deliberation, not a completed dismissal.
A board discussion is not a dismissal
CNBC reports “Nvidia's board is meeting to decide whether to oust CEO”; that describes deliberation, not a completed dismissal.
CNBC also reports that the board “has opened an independent investigation” and “hired the law firm” to examine the spying allegations, describing an outside investigation rather than a finding.
The excerpt attributes the employee relationship report to the Times, using “had a romantic relationship”, and separately attributes the spying suspicion to intelligence officials, using “U.S. intelligence officials believe is a spy”.
The CEO's staff message, reproduced by CNBC, says “I was unfaithful to my wife.”; that admission does not confirm the separate spying allegation.
The price comparison is not an after-hours replay
CNBC reported “Shares of Nvidia fell more than 9% in post-market trading”; the supplied daily-price study does not independently verify that after-hours move.
Data table
| day | series | value | series_role |
|---|---|---|---|
| -5 | NVIDIA | -9.3% | target |
| -4 | NVIDIA | -6.7% | target |
| -3 | NVIDIA | -10.7% | target |
| -2 | NVIDIA | -15.6% | target |
| -1 | NVIDIA | -13.2% | target |
| 0 | NVIDIA | -17.0% | target |
| -5 | Peer basket | -12.4% | peer |
| -4 | Peer basket | -7.3% | peer |
| -3 | Peer basket | 0.6% | peer |
| -2 | Peer basket | 2.7% | peer |
| -1 | Peer basket | 7.2% | peer |
| 0 | Peer basket | 7.6% | peer |
| -5 | Cumulative abnormal return | 3.1% | neutral |
| -4 | Cumulative abnormal return | 0.1% | neutral |
| -3 | Cumulative abnormal return | -12.7% | neutral |
| -2 | Cumulative abnormal return | -20.3% | neutral |
| -1 | Cumulative abnormal return | -21.8% | neutral |
| 0 | Cumulative abnormal return | -26.5% | neutral |
On the study's event day, NVIDIA's peer-adjusted return The stock's percentage change after accounting for the comparison group's change. It measures relative performance, not the cause of a move. was -4.7%, measured against a peer basket A group of companies combined into a comparison. The group's result does not describe every member's performance. comprising AMD, Qualcomm, and Broadcom.
Glossary
- peer-adjusted return
- The stock's percentage change after accounting for the comparison group's change. It measures relative performance, not the cause of a move.
- peer basket
- A group of companies combined into a comparison. The group's result does not describe every member's performance.
How weak was NVIDIA relative to its peers before the report?
Actual-21.8%
Before the study's event day, NVIDIA's cumulative peer-adjusted return was -21.8%. The surprise is that relative weakness was already present before the headline, not just alongside it. This comparison does not establish the reason for that earlier weakness or the move around the report.
Show answer
-21.8% Before the study's event day, NVIDIA's cumulative peer-adjusted return was -21.8%. The surprise is that relative weakness was already present before the headline, not just alongside it. This comparison does not establish the reason for that earlier weakness or the move around the report.
Daily prices extend through November 12, 2026 for NVIDIA and Qualcomm, but only November 11, 2026 for AMD and Broadcom, so the endpoints are uneven.
Less follow-up trading data is available than the study requested, so its event-and-after result covers only the available trading data.
A lower earnings multiple is not a verdict
From November 12, 2025 through November 12, 2026, NVIDIA returned -14.0%, versus the supplied market benchmark's 12.0%.
Using earnings through 2026Q3, the supplied trailing P/E The share price divided by earnings per share over the latest annual reporting span. It shows what investors pay for past earnings, not a promise of future profits. comparison puts NVIDIA at 20.9x against the peer median of 42.8x.
Glossary
- trailing P/E
- The share price divided by earnings per share over the latest annual reporting span. It shows what investors pay for past earnings, not a promise of future profits.
These are not synchronized post-report valuations: NVIDIA and Qualcomm prices reach November 12, 2026, while AMD and Broadcom prices stop at November 11, 2026.
My reading: the lower earnings multiple adds context, but it does not tell you whether the leadership uncertainty has been assessed correctly or whether these businesses deserve matching valuations.
Risks
- Reports and allegations are not established facts.
- Market or industry moves complicate attribution.
- The peer basket is small and imperfect.
Sources
- FinMind USStockPrice (AMD, AVGO, NVDA, QCOM) — data as of 2026-11-11, 2026-11-12; fetched 2026-11-12 23:45 UTC; License note: FinMind open data; original source TWSE/TPEx or US exchanges