Broadcom

Amazon Meta was 4% down, but Alphabet was down 2% as well.

Broadcom down 10%.

So the Marvell down 16%.

Qualcomm down almost 10% as well.

NVIDIA down over 9%.

Broadcom down 10%.

Micron down 17%.

And this shows you the cyclicality of the chip business.

Can they sustain the investment? And can they make money from the enormous investment I think that's why the investors make investors nervous and they dump the shares.

And like Broadcom and Nvidia fell almost 10 percent last night.

For others, they lost even more.

And I think until the selling stops, I think the market will continue to fall.

That has come to pass, but the way that it's been instituted is kind of fascinating.

So Nvidia down 9.5%, AMD down 17%, Micron 17%, Broadcom 10%, SanDisk 22%.

NASDAQ entered correction territory.

So the NASDAQ index closed nearly 12% below its October record, crossing the 10% threshold that defines a market correction.

Qualcomm is a great setup here.

Broadcom is a great setup here.

So I think there's a lot of stocks out there that offer maybe a little bit more, um, risk-adjusted or better risk-adjusted returns than Nebius.

But in terms of like pure upside, Nebius has got to be number one.

But look at the Broadcom setup.

You're just kind of languishing underneath a 50-day moving average.

But this looks to me like a stock chart that's ready to just kind of spring load higher.

I like the setup on Broadcom quite a bit.

Stocks tumbled all day, erasing the sharp gains yesterday off the heels of Democrat victories in the midterm elections.

Chip stocks like Broadcom, Nvidia, and Qualcomm all fell.

On Wall Street, the Dow down by 1,833 points.

The Nasdaq dropped 1,421.

There are a point, there's a point where the agency costs of that are just too high.

And if that means missing SpaceX or Tesla or Broadcom or AMD or name good, you know, not even politically contentious companies, but just, you know, very, very well-run companies where there's no, what I would consider proper corporate governance, that means so what, that's fine.

There are other fish in the sea.

Yeah.

Now, we talked about three up top.

In addition, Western Digital fell 17%, Qualcomm dropped 9.5%, and Broadcom fell 10%.

The brutal irony here is that both SanDisk and Western Digital have been some of the best performing stocks in the entire market this year, and it was just not a great day for anyone.

Speaking of folks that probably aren't having that great of a day or month, unsurprisingly, Elon Musk's companies are doing pretty poorly too.

Well, there's a lot of implications, right? I mean, like, they have these huge commitments to Amazon and to Google for over $1 billion for chips.

and the compute power right they also had that with nvidia they had that with broadcom uh they're leasing these data centers right for like 20 years but their commitments from their customers are 12 months so there's huge leasing risk as it relates to like the owner and the developer of these properties.

And last-minute computing is also like a huge expense for Anthropic, which is essentially they run out of compute.

They got to buy it last second.