Why Artificial Intelligence (AI) Chip Stocks Broadcom, Taiwan Semiconductor Manufacturing, and Arm Holdings Plunged Today
Broadcom(AVGO) The Motley Fool·2024-07-24 20:10It was a bit of a head-scratcher, and could be a buying opportunity.Shares of artificial intelligence (AI) chip names Broadcom (AVGO -7.59%), Taiwan Semiconductor Manufacturing (TSM -5.90%), and Arm Holdings (ARM -8.16%) were falling on Wednesday, down 6.7%, 5.1%, and 7.7%, respectively, as of 3:28 p.m. ET.None of these companies reported news today, but the entire artificial intelligence chip cohort seemed to be taking it on the chin after tech giants Alphabet and Tesla reported earnings last night that fa ...