Nvidia Falls Into Correction, Broadcom Slips Slightly After Premarket Rise

Nvidia Falls Into Correction, Broadcom Slips Slightly After Premarket Rise

Nvidia shares fell nearly 2 in premarket trading Tuesday. The shift puts the stock in correction territory after dropping over 10 from its all-time high close of nearly $150 last month. Broadcom shares fell slightly after an early premarket rise. Nvidia shares have declined 5 in the past five days, and Broadcom surged 40, buoyed by better-than-expected Q4 earnings and a strong revenue outlook. Wall Street firms have recently raised price targets for Broadcom, which has gained over 120 year-to-date. Nvidia remains up more than 160 year-to-date. Nvidia's gains are driven by demand for GPUs powering large AI models, while Broadcom focuses on custom AI chips for hyperscalers.


User: Benzinga

Views: 98

Uploaded: 2024-12-17

Duration: 00:47

Your Page Title