Why Broadcom Stock Is Sinking Today
(NASDAQ: AVGO) stock is slipping in Wednesday's trading. The company's share price had fallen 2.4% as of 1:15 p.m. ET today amid the backdrop of a 0.6% decline for the S 500 and a 1.1% decline for the Nasdaq Composite. The stock had been down as much as 4.4% shortly after the market opened.
Broadcom is under pressure today following new research from the Massachusetts Institute of Technology (MIT) suggesting that most businesses are getting little or no real benefit from using generative artificial intelligence (AI). The company's stock is also seeing sell-offs in conjunction with some bearish inflation indicators.
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Source Fool.com
Broadcom Ltd. Stock
€288.60
-0.210%
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 308 € shows a slightly positive potential of 6.72% compared to the current price of 288.6 € for Broadcom Ltd..
