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Broadcom and Nvidia Stocks Fall
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.