There are signs investors have become more selective as the tech rally stalled this month. Nvidia Corp.’s shares faltered following results that beat lofty expectations, while Marvell Technology Inc. — another chipmaker with AI exposure — slumped after its own report. Such reactions are worrisome for the market, particularly for companies banking on a jolt from AI sales.
Delivering on that forecast would’ve likely sent the chipmaker’s shares soaring a couple weeks ago. Now, after Nvidia’s blowout fell relatively flat, Broadcom’s 10-quarter streak of rising the day after earnings could be in jeopardy. The options market is implying a one-day move of 4.4% in either direction on the day after the report.Headwinds have been persistent.
Furthermore, there has also been progress in the company’s $61 billion acquisition of VMware Inc., which Broadcom expects will close near the end of October. X, the social network that used to be known as Twitter, updated its privacy policy to include a new kind of user data it plans to collect: biometric.
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