Good Thursday morning. Welcome to Squawk in the Street. I'm Carl Kintanay with Leslie Picker here at Post 9 of the New York Stock Exchange.

Sarah Eisen's on assignment today. Broadcom is leading this pullback in technology today after a nearly two-week rally.

City's head of tech research, Heath Terry's with us to break down what it means for the high-flying tech names and why chips in memory continue to be the bottleneck for soaring AI demand.

Plus, with inflation already squeezing American consumers and the Fed saying affordability pressures could worsen,

we'll get the latest read on the consumer with the CEO of outlet retailer, Tanger.

Homeowners suddenly pulling their houses off the market.

Some new data showing frustrated sellers are giving up at the fastest pace since 2020,

and we will try to explain why.

As for the market, you can see the difference as the Dow gets some love as opposed to the NASDAQ.

Sector-wise, actually, quite positive breadth with a number of sectors very strong. A financial's up 2% plus, one of its best days versus the queues in more than a year. We'll start, though, with this morning's tech movers, big mover. As Christina Pritzenev is looking at Broadcom and Sima Modi on Crown Strike, both of those stocks falling after their respective earnings reports.

Let's get to Christina first.

Well, Broadcom shares are down quite a bit now about 15%. Strong numbers on the surface, but just not strong enough for this crowd.

Q3 AI chip revenue guided to about $16 billion.

That's up more than 200% you over year.

But the street was looking for a higher number, specifically by side.

And with the stock really running up 13% just over the last five sessions heading into the print last night, even a near miss hurts.

The bigger blow also came from CEO Hawk Tan reiterating on the call, not raising the fiscal 2027 AI revenue target of $100 billion.

So he used the word reiterate.

Buy site expectations were already closer to $150 billion,

so a reiteration just wasn't what they came for.

Then there's the competition question.

Google is now working with Media Tech on inference chips,

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