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Chip stocks tumble as AI-driven rally cools; Qualcomm down 11.46%
Qualcomm closed down 11.46% on Tuesday as chip stocks pulled back from their AI-driven rally, with Intel falling 6.82%, Sandisk 6%, and Micron 3.61%.
Samantha Subin / CNBC: Qualcomm closed down 11.46% on Tuesday as chip stocks pull back from record AI-driven rally; Intel closed down 6.82%, Sandisk dropped 6%, and Micron 3.61% — 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.
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