Biggest Moving Stocks: Broadcom, Marvell, And More

12/16/2024 10:11:50 AM

(MENAFN- Baystreet) Last Friday, Broadcom (AVGO) closed at an all-time high of $224.80. The market capitalization topped exactly $1 trillion. Markets are pricing on the hardware supplier's potential in custom artificial intelligence.

Broadcom expects up to $90 billion in revenue from custom artificial intelligence chips by 2027. AVGO stock gained 24.43% on December 13. This lifted Micron (MU) and Marvell (MRVL) shares.

AI application-specific integrated circuit customers include Alphabet (GOOG) and Meta Platforms (META). Taiwan Semiconductor (TSM) is another winner. TSM is involved in the XPU cluster segment.

MongoDB (MDB) dropped by 7.42% last Friday. Investors continued to dump the stock after the Q3 report was issued on Dec. 9. Additionally, the CFO announced a retirement. MDB stock is not a buy today, since its P/E is over 100 times. However, its growth prospects are not higher than other software companies.

Airbnb (ABNB) failed to break out above the $140 resistance level. In the last week, shares pulled back by around 5%. The stock needs to adjust to a lower valuation, especially if bookings weaken.

Nucor (NUE) closed at $125.25, near a fresh 52-week low. Despite increasing its dividend by 1.9% to $0.55, investors are avoiding steelmakers. The impending Trump tariff trade war will hurt demand. In Q3, Nucor issued a weak fourth-quarter outlook.

MENAFN16122024000212011056ID1108998127

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.