Even with better-than-expected earnings and revenue, Broadcom slid on Friday as investors continued to grow concerned about the AI trade.
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Broadcom’s
quarterly results and guidance sailed past Wall Street estimates. It didn’t matter.
The chipmaker’s shares plummeted 11% on Friday, on pace for their worst day since January, as investors ran for the exits on the artificial intelligence trade. Oracle
dropped 4% a day after plunging 10% following its earnings report.
Oracle Nosedives In Premarket, Major AI Stocks Down As Well
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In the near term, investors may still be flighty, unless something concretely reassuring, such as Oracle achieving positive cash…
In at least one corner of the AI market, sentiment has turned decidedly negative.
In the near term, investors may still be flighty, unless something concretely reassuring, such as Oracle achieving positive cash…
Expectations were high coming into Thursday's earnings release, so the stock's pullback is hardly a surprise.
Oracle reported lower-than-expected revenues in its quarterly earnings report released on Wednesday.
Shares in Nvidia, Micron and Microsoft were also lower in premarket trade on Thursday.
