Stocks were mixed Friday as market valuations hang high near the year's end. The Dow Jones Industrial Average fell over 80 points, while the S&P 500 Index settled below the flatline and the Nasdaq Composite advanced 0.1%. The Dow posted its seventh losing session Friday, and declined nearly 2% for the week. The S&P 500, in turn, ended a three-week losing streak, falling 0.6%, while the Nasdaq rose 0.3% for the week.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): -0.00% or -0.16 points to 6,051.09

Dow Jones Industrial Average (DIA  ): -0.20% or -86.06 points to 43,828.06

Nasdaq Composite Index (QQQ  ): +0.12% or +23.88 points to 19,926.72

On the Earnings Front:

Broadcom (AVGO  ) reported better-than-expected fourth-quarter earnings late Thursday, with its artificial intelligence revenue notably more than tripling year-over-year. The company's shares popped higher on Friday after CEO Hock Tan said the semiconductor maker is developing custom AI chips with three large cloud customers, expecting each of them to deploy 1 million AI chips in networked clusters by 2027.

"We see an opportunity over the next three years in AI," Tan told investors on the earnings call. "Massive specific hyperscalers have begun their respective journeys to develop their own custom AI accelerators."

For its first-quarter, Broadcom expects revenue of about $14.6 billion, which is just ahead of analyst estimates.

Costco (COST  ) shares also rose higher Friday after the membership warehouse retailer reported strong fiscal first-quarter results, seeing gains across multiple channels including e-commerce, jewelry and furniture. E-commerce sales rose 13% year-over-year, as traffic increased 5.1% globally and 4.9% in the United States.

Costco also saw new records in its U.S. bakery division, selling 4.2 million pies in the three days prior to Thanksgiving and 274,000 whole pizzas across the country on Halloween, CEO Ron Vachris said during the company's earnings call with analysts.

In the News:

Baird analyst Colin Sebastian raised the firm's price target for Amazon (AMZN  ) to $260 from $220, implying a more than 13% upside from Thursday's close as expanding generative AI and e-commerce trends are set to benefit the tech giant.

"Our checks are also positive with ongoing market share gains as consumers are responding to low prices and speedy deliveries. This [is] despite increasing competition from Shopify (SHOP  )/Temu (PDD  )/Walmart (WMT  )/Shein/TikTok Shops," Sebastian wrote in a Friday note to clients.