Broadcom and Nvidia Stocks Fall
By Hannah Miao, Reporter
Introduction
Broadcom’s stock pulled back around 5% after the company beat Wall Street’s earnings expectations, but forecast in-line revenue for the current quarter. Shares of fellow chip maker Nvidia also retreated, with the stock down about 2%. Nvidia is one of the biggest companies in the U.S. by market value, so it is heavily weighted in major U.S. stock indexes like the Nasdaq Composite and S&P 500.
Reasons for the Stock Fall
- Broadcom beat Wall Street’s earnings expectations
- Broadcom forecast in-line revenue for the current quarter
- Nvidia is one of the biggest companies in the U.S. by market value
- Nvidia is heavily weighted in major U.S. stock indexes like the Nasdaq Composite and S&P 500
Impact on Stock Market
The decline in Broadcom and Nvidia stocks has had an impact on the overall stock market, particularly on major U.S. stock indexes like the Nasdaq Composite and S&P 500. As Nvidia is heavily weighted in these indexes, any significant movement in its stock can affect the performance of the entire index.
Conclusion
Despite beating earnings expectations, Broadcom’s stock fell around 5% due to its in-line revenue forecast for the current quarter. Similarly, Nvidia’s stock retreated about 2%, impacting major U.S. stock indexes. Investors will closely monitor the performance of these companies in the coming months to assess their long-term prospects.
