Amazon And Nvidia Enter Corrections As Tech Selloff Deepens

Benzinga

Amazon and Nvidia slid into correction territory as investors shifted from AI optimism to concerns over rising costs and Nvidia’s upcoming earnings. More Big Tech names, including Tesla, Meta, Broadcom, AMD, and Oracle, have also fallen out of favor, while Apple and Alphabet remain relatively stable.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Amazon and NVIDIA entered correction territory on Tuesday as tech stocks continued to fall,

00:07according to MarketWatch. Amazon has lost the gains from its third-quarter earnings as

00:12investors shift focus from AI optimism to rising concerns about the cost of Amazon's AI build-out

00:17and its recent $15 billion debt deal. NVIDIA shares continued to sell off ahead of its earnings

00:23report on Wednesday. Jeffrey strategist Jeffrey Favuza said expectations are clear,

00:28but noted strong excitement and predicted a buy-the-dip mindset if earnings act as a clearing

00:34event. Tesla is in a correction, and Meta has been in a bear market since November 4th as more big

00:39tech stocks fall out of favor. Broadcom and advanced micro devices entered corrections earlier this

00:45month, while Oracle has been in a bear market since October 30th. Apple and Alphabet have held

00:50up better, each down less than 3% from recent highs. For all things money, visit Benzinga.com.

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