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Qualcomm drops 13% as chip stocks pull back from record AI-driven rally
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- Chip stocks dropped on Tuesday, pulling back from a massive rally that broadened the artificial intelligence trade beyond Nvidia and propelled the sector to new highs.
- Qualcomm plummeted 13% and headed for its worst session since 2020.
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Chip stocks dropped on Tuesday, pulling back from a massive rally that broadened the artificial intelligence trade beyond Nvidia and propelled the sector to new highs.
Qualcomm plummeted 13% and headed for its worst session since 2020. Intel dropped 8%, while On Semiconductor and Skyworks Solutions declined more than 6% each. The iShares Semiconductor ETF tracking the sector sank 5%.
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