Why Broadcom Stock Is Sinking Today
(NASDAQ: AVGO) stock is heading lower in another day of bearish trading for artificial intelligence (AI) companies. The semiconductor specialist's share price is down 2.6% as of 2:45 a.m. ET. Meanwhile, the S 500 had fallen 0.4%, and the Nasdaq Composite had sunk 0.5%.
Concerns that AI stocks may be in a valuation bubble have continued to shape momentum for the broader market Friday, and a new report on consumer confidence from the University of Michigan is also contributing to pullbacks. While Broadcom stock has seen a pullback from the record high it reached at the end of last month, its share price is still up 48% year to date.
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Source Fool.com
Broadcom Ltd. Stock
€282.20
-0.600%
The stock is one of the favorites of our community with 91 Buy predictions and 1 Sell predictions.
As a result the target price of 310 € shows a slightly positive potential of 9.85% compared to the current price of 282.2 € for Broadcom Ltd..
