Why Broadcom Stock Fell 15% in June
Yahoo Finance ·
Shares of Broadcom ( AVGO +5.00% ) 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 . As you can see from the chart below, the stock fell sharply after the report and then stayed down.
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