AVGO is trading at $299.77 (-3.12%) as geopolitical tensions in the Middle East and surging oil prices drive a risk-off sentiment across the tech sector.
- The decline aligns with sharp losses in major indices, including the NASDAQ Composite down 1.73% and the S&P 500 down 1.27%.
- Oil prices have surged above $107/barrel following reports of Iran extending its blockade of the Strait of Hormuz.
- No company-specific news was reported today; while Q1 results showed strong AI revenue growth, the stock is currently fading on technical weakness.