Stock Market Today, June 5: Broadcom Falls as Strong AI Results Fail to Lift Guidance

Broadcom (NASDAQ:AVGO), which designs and supplies semiconductor devices and infrastructure software solutions, closed Friday at $385.73, down 7.92%. The stock is sliding as investors continue reacting to disappointing AI chip sales guidance and valuation concerns following record Q2 results, and they are watching how AI bookings and long-term AI revenue targets evolve.The company’s trading volume reached 50.3 million shares, which is about 95% above compared with its three-month average of 25.7 million shares. Broadcom went public in 2009 and has grown 23710% since its IPO. The S&P 500 (SNPINDEX:^GSPC) fell 2.63% to 7,383.74, while the Nasdaq Composite (NASDAQINDEX:^IXIC) lost 4.18% to finish at 25,709. Within semiconductors, industry peers Nvidia (NASDAQ:NVDA) closed at $205.10 (-6.19%) and Texas Instruments (NASDAQ:TXN) finished at $285.06 (-6.65%), reflecting broader pressure across AI-oriented chipmakers.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool