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History stacks against Nasdaq bulls as the index breaks below Friday's low in Tuesday's session. MRVL, AMD, INTC, MU and AVGO all down.
The Nasdaq 100 sank 3.3% Tuesday as AI and optical stocks cratered, while cash rotated into real estate, staples and utilities and oil slid more than 5%
Micron, Marvell and Arm are the most stretched chip stocks above their 200-day averages. Only Micron still trades on a cheap valuation as the rally runs.
Marvell Technology stock falls on Tuesday due to profit-taking, but the long-term bullish trend and analyst buy ratings remain intact.
Intel stock climbs premarket on reports of a massive Google AI chip order and packaging tests with Nvidia. Read the details.
The most important chart on Wall Street right now isn’t Nvidia Corp. (NASDAQ:NVDA) or Micron Technology Inc.
Nvidia CEO Talks His Book
U.S. stocks bounced back from last week’s tech-led rout on Monday, as a halt to the semiconductor selloff and signs of de-escalation in the Middle East sparked a broad relief rally, with the Nasdaq 100 leading the way higher.