Nvidia and Broadcom are running manufacturing tests with Intel
Ever in focus, semiconductor stocks Nvidia Corp (NASDAQ:NVDA) and Broadcom Inc (NASDAQ:AVGO) are in focus today amid reports the companies are running manufacturing tests with Intel (NASDAQ:INTC). The tests may determine whether the chip giants will commit to a multi-billion manufacturing contract with Intel.
NTC Fresh Off Monthly Win
INTC is up 1.3% to trade at $24.05 at last check, after last week seeing its best monthly performance since November 2023. Though the stock sports a 44.1% year-over-year deficit, its already added 21.8% this year.
NVDA Extends Pullback
NVDA was last seen down 4.6% to trade at $119.24, looking to extend last week's 7.1% weekly loss, its worst week since Jan. 31 despite upbeat earnings results. Despite a 46.7% lead over the past 12 months, the shares have shed 10.4% so far in 2025, and are trading below all long- and short-term moving averages.
AVGO Slips Before Earnings
AVGO is down 3.4% to trade at $192.11 at last glance, and earlier hit its lowest level since mid-December after finishing February with its worst monthly loss since September 2023. Long-term support at the 140-day trendline could contain today's losses, but the stock already carries a 16.8% year-to-date deficit.
The chip giant will report fiscal first-quarter earnings after the close on Thursday, March 6. The security has an upbeat history of post-earnings reactions, finishing five of its past eight next-day sessions higher. This time around, options traders are pricing in a 13.2% move, regardless of direction. In the last two years, the security has averaged an 8.8% next-day swing.