Broadcom (AVGO) shares down 13% after weaker earnings report
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowBroadcom (AVGO) shares fell 13% following the release of weaker-than-expected earnings, while Micron Technology (MU) saw a decline of over 6%. Other semiconductor stocks, including ARM Holdings and Qualcomm, also dropped by 6% and 3%, respectively. Analysts at HSBC cited concerns over slipping chip prices and reduced AI spending as key issues. This sell-off follows a strong run for the sector, suggesting potential for further market adjustments.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Broadcom Inc. (AVGO)
Broadcom is a diversified semiconductor and infrastructure-software maker, supplying networking, broadband, and custom AI chips to data centers and device makers.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier AVGO news
- Stock Movements Pre-Market: Broadcom, Micron, Coinbase Updates
- Broadcom (AVGO) Reports Revenue Miss, Shares Drop 13%
- Broadcom (AVGO) Leads Chip Stocks Lower in Premarket Trading
- Broadcom (AVGO) Earnings Show Revenue Miss and AI Chip Outlook Unchanged
- Broadcom (AVGO) Price Target Raised Post Earnings Sell-off
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