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
Get the weekly market brief
One email every Monday: what moved, why, and what to watch. Free, unsubscribe anytime.
Get stories like this as they break
Our Telegram channel posts every market story the moment it is published. Free, and you can mute or leave anytime.
Related News
Waymo Plans To Increase Fleet Size To 20,000 Vehicles
Oct 19
Match Group Reports 20% of Relationships Begin on Dating Apps, Survey of 3,007 Singles
Oct 19
Indonesia Stocks Fall to Six-Year Low Amid MSCI Downgrade Risk
Oct 19
Nscale and Anthropic Discuss $45 Billion Cloud Deal, Bloomberg Reports
Oct 19