Why Broadcom Stock Fell 10% in September
Shares of Broadcom (NASDAQ: AVGO) were moving lower last month after the semiconductor designer known for network solutions and other chips offered underwhelming third-quarter results, and the stock responded to rumors that Google could drop it as a supplier.
According to data from S&P Global Market Intelligence, the stock finished the month down 10%.
As you can see from the chart below, the stock fell at the beginning of the month and continued to slide from there, responding to the broader sell-off in tech stocks as the Federal Reserve projected that interest rates would stay higher for longer.
Source Fool.com
Broadcom Ltd. Stock
€337.80
0.490%
With 82 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 396 € there is a slightly positive potential of 17.23% for Broadcom Ltd. compared to the current price of 337.8 €.
