Why did Broadcom's stock fall sharply last week?

Broadcom's stock dropped over 11% due to misinterpreted management remarks on its earnings call, despite a quarterly beat and raise.

What were the key issues for Oracle's stock decline?

Oracle's stock fell nearly 11% after a quarterly sales miss, disappointing guidance, and reports of pushing back data center completion dates for OpenAI.

Will Nvidia be able to sell its H200 chips in China?

Yes, Nvidia received approval to ship its H200 chips to approved customers in China, with the U.S. government taking a 25% cut.

Home / Business and Economy / Tech Tumbles: Broadcom Plunge, Oracle Woes Hit Markets

Tech Tumbles: Broadcom Plunge, Oracle Woes Hit Markets

14 Dec

•

Summary

Broadcom's stock dropped 11.5% on misinterpreted earnings call remarks.
Oracle saw nearly 11% stock decline due to sales miss and guidance.
Nvidia secured approval to ship H200 chips to China, impacting AI trade.

Tech Tumbles: Broadcom Plunge, Oracle Woes Hit Markets

Last week saw the S&P 500 finish lower, reversing recent gains as tech stocks faced a significant downturn. Broadcom's shares plummeted 11.5% on Friday after its quarterly report, overshadowing positive results with remarks that fueled AI stock valuation concerns. Similarly, Oracle experienced a nearly 11% drop following a sales miss and reduced guidance, compounded by reports of delayed data center completions for OpenAI.

Despite the tech sell-off, the Dow Jones Industrial Average closed the week higher, marking its third consecutive weekly gain. This divergence was driven by a rotation out of communications services and information technology into materials, financials, and industrials. Investors are now looking towards the potential "Santa Claus rally" in the year's final trading days for market support.