AMD (AMD) erases its post-Huang rally, and Broadcom (AVGO) gives back most of it as chip stocks slide

Key points AMD and Broadcom gave back most or all of their gains from the day Jensen Huang resigned Nvidia was on track for its longest streak of weekly losses since 2012, Reuters reported CoreWeave and Nebius fell 6% to 10%, while Cerebras rose after its earnings Chip stocks fell sharply on Nov. 13, and the two rivals that rallied the day Jensen Huang resigned as Nvidia's CEO gave back most or all of that rally. AMD (AMD) closed down 8.8% at $534.06, and Broadcom (AVGO) closed down 4.8% at $347.01. The Philadelphia Semiconductor Index fell 3.4%. On Nov. 12, AMD rose 5.9%, and Broadcom rose 5.5% while Nvidia (NVDA) fell 4.3%. At the Nov. 13 close, AMD was 3.4% below its Nov. 11 close, and Broadcom was 0.5% above it. Fresh concerns about Nvidia "reignited a selloff in technology shares," Reuters reported. Earlier in the day, the report said Nvidia was on track for its longest streak of weekly losses since October 2012. Nvidia closed down 2.0% at $162.85.

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