Why Broadcom Stock Is Falling Today
Shares of semiconductor company (NASDAQ: AVGO) were tumbling today after it was reported that the company is testing out Intel's manufacturing chip process. Broadcom designs its chips, but doesn't manufacture them. Most of the company's processors are currently made by Taiwan Semiconductor Manufacturing (TSMC).
Broadcom investors evidently don't like the idea of the company potentially using Intel as its manufacturer, and sent the stock down by as much as 4.2% today. Broadcom's shares fell by 2.2% as of 11:25 a.m. ET.
It's not uncommon for chip designers to occasionally run tests with chip manufacturers to see if their process could be beneficial. But Broadcom's test of Intel's 18A process caught investors' attention, likely because Intel has struggled to get its particular advanced processing production off the ground.
Source Fool.com
Broadcom Ltd. Stock
The stock is one of the favorites of our community with 95 Buy predictions and 2 Sell predictions.
As a result the target price of 300 € shows a slightly positive potential of 6.67% compared to the current price of 281.25 € for Broadcom Ltd..
