Why Nvidia, Micron, Broadcom, and Other Artificial Intelligence (AI) and Semiconductor Stocks Slumped on Tuesday

Some of the biggest drivers of the ongoing market rally that began early last year are the advances in artificial intelligence (AI). These next-generation algorithms and the semiconductors that power them could spark a wave of increased productivity.The potential to profit from these advances has fueled rapid adoption of AI, which has sent purchases of semiconductors soaring. However, the chip industry could be among the first to feel the impact of the just-announced dockworkers' strike.With that as a backdrop, AI chip specialist Nvidia (NASDAQ: NVDA) slumped 3.9%, memory and storage chipmaker Micron Technology (NASDAQ: MU) tumbled 3.9%, semiconductor specialist Broadcom (NASDAQ: AVGO) fell 3.1%, and database and AI chipmaker Oracle (NYSE: ORCL) dropped 1.9%, as of 2:06 p.m. ET on Tuesday.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool