US EditionBroadcom and Tech Stocks Fall, but the Rest of Wall Street Picks up some of the Slack
Broadcom's 8.8% drop follows a 75.3% annual surge as investors shift to blue chips, travel, and small-cap stocks amid optimism on interest rates, S&P 500 near records.
- On Wednesday, Broadcom led AI-focused stocks lower, with shares falling 8.8% despite a stronger quarterly profit, following Oracle's near 11% plunge a day earlier.
- Following the Fed's rate cut this week, investors cited unease about Broadcom's profit forecasts after a 75.3% year-to-date surge.
- Travel stocks led gains on Friday, with Norwegian Cruise Line up 3.4% and Southwest Airlines up 2.2%, while the Russell 2000 index jumped 2.6% this week.
- Markets stayed near record highs as the majority of stocks rose and the Dow Jones Industrial Average added 110 points, while the 10-year Treasury yield climbed to 4.18%.
- Looking beyond the day’s moves, analysts flagged doubts about heavy AI spending, while Hock Tan, Broadcom CEO, said AI semiconductor revenue grew 74%, driving sector gains.
58 Articles
58 Articles
San Diego Union Tribune
Broadcom drags on Wall Street as worries about AI weigh
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AI stocks are falling with Broadcom, but the rest of Wall Street is picking up the slack
Artificial-intelligence stocks are falling again, but smaller U.S. stocks and other areas of the market that used to get left behind by Big Tech are picking up the slack. That’s keeping Wall Street indexes near their record heights early Friday.
Broadcom and tech stocks fall, but the rest of Wall Street picks up some of the slack
Broadcom is leading artificial-intelligence stocks lower on Friday, but other areas of the market that used to get left behind by Big Tech are picking up some of the slack. That’s keeping Wall Street indexes near their record heights.The S&P 500 slipped 0.2% in morning trading, coming off its latest all-time high, while the weakness for tech had the Nasdaq composite down 0.4%, as of 10 a.m. Eastern time. The majority of stocks on Wall Street wer…
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