Wall Street Retreats as Tech Stocks Weaken, Nasdaq Drops Over 1.5%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2026
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Source: Benzinga
- Tech Stock Pullback: The Nasdaq 100 index fell over 1.5% during midday trading in New York, marking its worst performance in nearly a month, primarily dragged down by declines in tech giants like Broadcom, Oracle, and Nvidia, which dropped approximately 5%, 4.5%, and 2.5%, respectively.
- Bank Stocks Under Pressure: Shares of Citigroup and Wells Fargo fell by 4% each following disappointing earnings reports, exacerbating market concerns regarding financial stocks and negatively impacting overall market sentiment.
- Energy Sector Strength: Energy stocks rose over 2.4%, reaching their highest level since November 2024, with West Texas Intermediate crude climbing more than 1% to $62 a barrel, reflecting ongoing geopolitical risks that continue to shape the global energy market.
- Precious Metals and Crypto Rally: Gold prices increased by 0.5% to $4,610 per ounce, while silver surged above $90, gaining 4%, and Bitcoin rose for the fourth consecutive day to $97,000, indicating a growing demand for safe-haven assets amid market volatility.
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Analyst Views on AVGO
Wall Street analysts forecast AVGO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AVGO is 462.58 USD with a low forecast of 390.00 USD and a high forecast of 525.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
28 Analyst Rating
27 Buy
1 Hold
0 Sell
Strong Buy
Current: 333.240
Low
390.00
Averages
462.58
High
525.00
Current: 333.240
Low
390.00
Averages
462.58
High
525.00
About AVGO
Broadcom Inc. is a global technology firm that designs, develops, and supplies a range of semiconductors, enterprise software and security solutions. The Company operates through two segments: semiconductor solutions and infrastructure software. Its semiconductor solutions segment includes all of its product lines and intellectual property (IP) licensing. It provides a variety of radio frequency semiconductor devices, wireless connectivity solutions, custom touch controllers, and inductive charging solutions for mobile applications. Its infrastructure software segment includes its private and hybrid cloud, application development and delivery, software-defined edge, application networking and security, mainframe, distributed and cybersecurity solutions, and its FC SAN business. It provides a portfolio of software solutions that enable customers to plan, develop, automate, manage and secure applications across mainframe, distributed, mobile and cloud platforms.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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