Gene Munster thinks Wall Street isn't factoring in a few key developments as analysts prepare for the chip giant's Q3 earnings report on November 19.

The S&P 500 slipped 0.2% in early trading. The Dow Jones Industrial Average was up 78 points, or 0.2%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% lower. All three are still near their all-time highs, but they’ve been shaky recently.

Wall Street ended sharply higher on Monday, led by big gains in Nvidia, Palantir and other heavyweight AI-related companies following progress in Washington to end a record government shutdown.

A rough week for tech stocks might signal a loss of investor confidence in artificial intelligence. The Wall Street Journal reports that the Nasdaq Composite Index was down 3% — making this its worst week since President Donald Trump announced his sweeping tariff plan in April.

Alibaba reportedly preps revamp of AI app to resemble ChatGPT. China's Baidu sets stage for new AI chips at its annual tech event. Jobs, CPI reports for October may never be released - WH.

The U.S. stock market tumbled on Thursday to one of its worst days since its springtime sell-off, as Nvidia and other AI superstar stocks kept dropping on worries their prices shot too high. Also hurting the market were questions about whether coming cuts to interest rates that Wall Street has been banking on will actually happen.

Stocks on Wall Street slumped on Thursday as worries about high valuations of artificial intelligence (AI) businesses returned and amid doubts about US interest rate cuts. The tech-heavy Nasdaq Composite dropped by more than 2.3pc, its third-straight day of losses.