Stocks fell broadly on Friday as Wall Street closed out a holiday-shortened week on a down note. The losses were made worse by sharp declines for the Big Tech stocks known as the “Magnificent 7”, which can heavily influence the direction of the market because of their large size.

Meta is undoubtedly a great pick, but Nvidia still has a lot of room to run. It also happens to be a favorite of many of Wall Street's billionaires, appearing at the top of several funds. Both of these stocks will likely continue to lead the AI industry and outperform the broader market.

Nvidia, the superstar stock that’s been a big reason for Wall Street’s run to repeated records this year, fell 1.2% to weigh on the market. It’s the eighth loss in nine days for the stock, which has dropped more than 12% from its record set last month, as its moonshot momentum slows.

Many Wall Street bears have retreated in the face of this year's blistering stock rally. The few that remain see a steep correction on the horizon.

Nvidia's business is booming, but the stock is still quite expensive. Should you consider a lower-priced tech giant instead?

Stocks are broadly higher in trading on Wall Street, led by gains in Big Tech stocks. The S&P 500 was up 0.7% Tuesday.

This year has been one of milestones for top tech company Nvidia (NASDAQ: NVDA). Nvidia also won a spot among the elite, with an invitation to join the Dow Jones Industrial Average, and the stock became the best performer on the benchmark for the year.