More drops for superstar artificial intelligence stocks knocked Wall Street off its record heights on Friday, with the S&P 500 falling from its all-time high for its worst.
More drops for superstar artificial intelligence stocks knocked Wall Street off its record heights on Friday, with the S&P 500 falling from its all-time high for its worst day in three weeks.
Broadcom dragged the market lower and tumbled 11.4% even though the chip company reported a stronger profit for the latest quarter than analysts expected. Analysts called the performance solid, and CEO Hock Tan said strong 74% growth in AI semiconductor revenue helped lead the way. But investors may have been concerned with some of Broadcom’s financial forecasts, including how much profit it can squeeze out of each dollar of revenue.
