Nvidia\u2019s shares fell in premarket trading on Tuesday, as did Broadcom\u2019s shares, which erased earlier gains and also dropped.<\/p>\n\n\n\n
Nvidia shares dropped around 1.86% in premarket trading at 8:26 AM ET. On Monday, the company entered correction territory, which is broadly defined as the point when a stock drops 10% or more from its historical closing high.<\/p>\n\n\n\n
Last month, Nvidia shares reached a high of $148.88.<\/p>\n\n\n\n
After an initial gain in premarket trading, Broadcom\u2019s shares also declined and were about 0.11% lower at 8:24 AM ET.<\/p>\n\n\n\n
However, over the past five days, these companies have moved in different directions: Broadcom shares have increased by 40%, while Nvidia\u2019s shares have dropped by 5%.<\/p>\n\n\n\n
Optimism around Broadcom was bolstered by the company\u2019s fourth-quarter results, which exceeded expectations, along with its earnings forecast for the current quarter, which also came in above projections. A number of Wall Street brokers, including Goldman Sachs, have recently raised their target prices for Broadcom shares.<\/p>\n\n\n\n
Broadcom\u2019s shares have risen more than 120% this year, while Nvidia shares have added over 160% in the same period.<\/p>\n\n\n\n
Nvidia\u2019s graphics processors (GPUs) have proven immensely popular for training large models like those developed by OpenAI.<\/p>\n\n\n\n
Broadcom specializes in custom AI chips that the company develops for hyperscalers \u2014 large companies engaged in cloud computing.<\/p>\n\n\n\n
\u201cWe see opportunities over the next three years in AI,\u201d said Broadcom CEO Hock Tan during an investor call last week. \u201cBig specialized hyperscalers are beginning to develop their own custom AI accelerators.\u201d<\/p>\n","protected":false},"featured_media":3796,"template":"","class_list":["post-3749","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/stocksoft.com.pl\/en\/wp-json\/wp\/v2\/news\/3749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocksoft.com.pl\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/stocksoft.com.pl\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stocksoft.com.pl\/en\/wp-json\/wp\/v2\/media\/3796"}],"wp:attachment":[{"href":"https:\/\/stocksoft.com.pl\/en\/wp-json\/wp\/v2\/media?parent=3749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}