Diamonds and Dogs

9/6/24

Boring is beautiful again. AT&T (T) rose a percent in a down market. No news today, but the company did provide updated guidance on Wednesday at a Bank of America conference where they stated they are on track to meet their earnings and cash flow guidance. The stock currently yields 5.3%.

Broadcom (AVG) led the weakness in tech dropping 10% even as earnings were better than expected and revenue grew 47% year over year to $13.07 billion. Nvidia fell 4%, while the rest of the chips were down 3% to 2% each. Al the big cap techs fell as well with Google, Meta and Amazon down 3% or more.

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