Nvidia fell after rival chip leader Advanced Micro Devices teamed up with Microsoft for its AI chips.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the early part of the second quarter of 2024 showed a big divergence of returns.
Stocks were mostly unchanged as investors await Nvidia earnings. Fed Chair Powell tested positive for Covid. GameStop fell on preliminary results.