Business & Finance
Tech shares gain as Dell results lift Nvidia ahead of Broadcom earnings
The S&P 500 moved to end a three-day slide as Dell's earnings fueled artificial intelligence semiconductor optimism.
The short version
- The S&P 500 rose Wednesday, seeking to halt a three-day losing streak driven by higher bond yields, rising oil prices, and Middle East tensions.
- Nvidia shares climbed 4% after Dell exceeded quarterly expectations and sharply increased its fiscal 2027 earnings forecast.
- Market participants turned their attention to Broadcom's scheduled earnings report for updates on forward guidance and its relationship with Alphabet.
Key facts
- The S&P 500 advanced Wednesday following three consecutive days of market declines linked to higher oil prices, elevated bond yields, and U.S. military strikes against Iran.[CNBC]
- Dell beat quarterly revenue and earnings expectations while increasing its fiscal 2027 earnings guidance by more than 40%.[CNBC]
- Nvidia shares rose 4% in the wake of Dell's results, supported by Dell's reliance on Nvidia chips for its artificial intelligence server infrastructure.[CNBC]
- Broadcom was scheduled to report earnings after the market close, with investor focus directed at potential guidance updates for its fiscal 2026 AI semiconductor revenue.[CNBC]
What remains uncertain
- The long-term impact of Alphabet's recent custom silicon deal with Marvell on its ongoing supplier relationship with Broadcom remains unclear.[CNBC]