Nvidia Falls Into Correction, Broadcom Slips Slightly After Premarket Rise

Nvidia shares fell nearly 2% in premarket trading Tuesday. The shift puts the stock in correction territory after dropping over 10% from its all-time high close of nearly $150 last month. Broadcom shares fell slightly after an early premarket rise. Nvidia shares have declined 5% in the past five days, and Broadcom surged 40%, buoyed by better-than-expected Q4 earnings and a strong revenue outlook. Wall Street firms have recently raised price targets for Broadcom, which has gained over 120% year-to-date. Nvidia remains up more than 160% year-to-date. Nvidia's gains are driven by demand for GPUs powering large AI models, while Broadcom focuses on custom AI chips for hyperscalers.