Broadcom Miss Chip Selloff
Disappointing results from Broadcom are causing a selloff in chip stocks, weighing on the Nasdaq.
Too little corroboration in the last 3 days to call a trend (5 articles). Watching for it to gain traction.
"The Nasdaq composite dropped 0.8% after erasing an early gain. The S&P 500 was little changed Thursday, even though more than two-thirds of the stocks within the index rose."
"On Wednesday U.S. Technology fell and chip stocks dropped... Intel, Advanced Micro Devices, Broadcom Devices, Micro and Nvidia fell 10.6%, 2.2%, 6.9%, 9%."
"The Nasdaq 100 slipped 0.2%"
"The rally in chip stocks, which had powered Wall Street to multiple record highs, came to a halt in Thursday’s session after Broadcom’s fiscal second-quarter numbers and its decision not to raise AI revenue expectations for fiscal 2026 and 2027 disappointed Wall Street investors."
"Chipmaker Broadcom missed revenue expectations, sending its shares tumbling 12.6 per cent and casting a pall over the AI frenzy, which has sent chip stocks up over 92 per cent so far this year."