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.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02NVIDIA shares fell nearly 2% in pre-market trading Tuesday.
00:05The shift puts the stock in correction territory after dropping over 10% from its all-time
00:10high close of nearly $150 last month.
00:13Broadcom shares fell slightly after an early pre-market rise.
00:16NVIDIA shares have declined 5% in the past five days.
00:19Broadcom surged 40%, buoyed by better-than-expected Q4 earnings and a strong revenue outlook.
00:25Wall Street firms have recently raised price targets for Broadcom,
00:28which has gained over 120% year-to-date.
00:31NVIDIA remains up more than 160% year-to-date.
00:34NVIDIA's gains are driven by demand for GPUs powering large AI models,
00:39while Broadcom focuses on custom AI chips for hyperscalers.