Why Broadcom Stock Fell 15% in June
Shares of Broadcom (NASDAQ: AVGO) were among the losers last month, tumbling after its second-quarter earnings at the beginning of June despite solid results.
The company's AI revenue, while strong, fell short of estimates, and management acknowledged that Google, a major customer, was diversifying its sourcing for custom chips, or ASICs.
As a result, the stock finished the month down 15%, according to S&P Global Market Intelligence.
Source Fool.com
Broadcom Ltd. Stock
€366.60
0.440%
With 82 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 404 € there is a slightly positive potential of 10.2% for Broadcom Ltd. compared to the current price of 366.6 €.
