Big Tech has seen plenty of volatility recently amid AI overvaluation concerns. Chip stocks in particular are struggling once again today, following news that SoftBank sold its entire Nvidia (NVDA) stake for $5.83 billion. Below, let's take a look at how peers Lam Research Corp (NASDAQ:LRCX), Marvell Technology Inc (NASDAQ:MRVL), and Western Digital Corp (NASDAQ:WDC) are responding to these reports.
LRCX is down 4.1% to trade at $159.49 at last glance, but still sports a 121.3% year-to-date lead. The security is pulling back from yesterday's record peak of $167.15, though it still has support at the 20-day moving average and $150 level.
Last seen 3.4% lower to trade at $90.02, MRVL last week failed another attempt to conquer the $100 level, though it did hit its highest level since February. The ascending 40-day trendline has been providing support for the shares since September, but over the last 12 months, they've lost 18.3%.
WDC is down 1% to trade at $172.50 at last check, but earlier hit a record high of $178.45. The equity has been stringing record highs since breaking above resistance at the $140 level in late October, and now sport an impressive 285% lead for 2025 amid support from the 20-day trendline.
