AVGO is trading at $319.02, down 4% today, as broader market caution following Nvidia's earnings outweighs the announcement of its new 3.5D Face-to-Face Compute SoC for AI applications.
- Broadcom's latest product launch is being overshadowed by a 0.67% drop in the NASDAQ Composite and investor concerns regarding semiconductor inventory and geopolitical constraints.
- Market sentiment has shifted following Nvidia's record $78 billion guidance, leading to a valuation reassessment across the chip sector.
- The stock currently trades at a 12.4% premium to DCF estimates, which may be capping gains from positive fundamental developments.