Why Did Oracle Stock Drop Today?
Oracle (NYSE: ORCL) stock tumbled today -- along with the rest of the stock market -- falling 8.7% through 1 p.m. ET Friday, and it's no huge mystery why.
Specialty chip-maker (NASDAQ: AVGO) reported earnings on Wednesday and, while the news was good -- beats on both sales and earnings, and a forecast for 89% sales growth in Q3 -- investors spooked once they realized Broadcom's sales forecast implied sales of its artificial intelligence chips will only triple in Q3, and not grow even faster, as analysts hoped.
Broadcom sold off on the news yesterday, and today the panic seems to be spreading among other tech stocks.
Source Fool.com
Broadcom Ltd. Aktie
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