Why Broadcom Stock Turned Tail Today

After four straight days of steadily rising stock prices, shares of semiconductor manufacturer Broadcom (NASDAQ: AVGO) reversed course and declined Friday afternoon, falling 5.4% through 1:45 p.m. ET despite "beating earnings" last night.

Heading into its fiscal third quarter of 2023, analysts had forecast Broadcom would earn $10.42 per share on sales of $8.86 billion. Broadcom edged out the sales forecast with revenue of $8.88 billion and beat soundly on earnings, reporting a per-share profit of $10.54.  

So what's not to like about that? Well, let's take a look.

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Source Fool.com