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NVIDIA The stock fell in premarket trading Tuesday Broadcom Continue to soar rapidly.
Nvidia shares were down about 1.8% in pre-market trading at 10:47 a.m. London time. On Monday, the company Enter correction area —Broadly defined as the point at which a stock falls 10% or more from its all-time high closing price.
Nvidia hit a closing high of $148.88 last month.
In a tale of two chip stocks, Broadcom shares were up 1.9% in pre-market trading at 10:50 a.m. London time. In the past five days alone, Broadcom’s stock price has risen 40%, while Nvidia’s stock price has fallen 5%.
Broadcom released last week Fourth quarter financial results That beat expectations, as did the revenue outlook for the quarter. Many Wall Street brokers, including Goldman Sachs, have Price target raised Recently in Broadcom stock.
Broadcom shares have risen more than 120% so far this year, while Nvidia shares have risen more than 160% during the same period.
This breaking news story is being updated.
