Broadcom Inc. (AVGO) Shares Slide Despite Jump in Revenue
Yahoo Finance ·
Broadcom Inc. (AVGO) Shares Slide Despite Jump in Revenue Fatima Gulzar Thu, July 2, 2026 at 2:17 AM EDT 1 min read AVGO GOOGL Broadcom Inc. (NASDAQ:AVGO) is among the Best Fundamental Stocks . On June 3, The Wall Street Journal reported Broadcom Inc. (NASDAQ:AVGO) shares had plummeted despite stronger quarterly revenue and earnings. The report said the company's results and guidance failed to meet the expectations of some investors. The semiconductors and infrastructure software firm posted Q2 revenue of $22.19 billion, beating analysts' estimates of $22.13 billion. Adjusted earnings were $2.44 per share, ahead of the $2.40 consensus. Chief Executive Officer Hock Tan said AI semiconductor revenue more than doubled to $10.8 billion because of demand for custom AI accelerators and AI networking. Tan said AI semiconductor revenue is expected to exceed $16 billion in the third quarter and confirmed Broadcom Inc. (NASDAQ:AVGO) 's 2027 target of more than $100 billion. He also described the firm's long-term deal with Google to develop multiple generations of TPU chips and AI networking as "a very, very strong agreement" involving a "very substantial" financial commitment. Broadcom Inc. (NASDAQ:AVGO) is a multinational technology business that designs, develops, and sells semiconductors and infrastructure software solutions. It works through Semiconductor Solutions and Infrastructure Software divisions. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy . Disclosure: None. Follow Insider Monkey on Google News .
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