Broadcom Inc is trading 15.2% down at $406.38 after its fiscal Q2 report slightly missed revenue expectations and failed to raise its full-year AI outlook.
- Despite reporting 48% year-over-year revenue growth, management only reiterated its $56 billion annual AI revenue target, disappointing investors who had anticipated a guidance hike following the recent AI surge.
- The post-earnings sell-off is pressuring the broader semiconductor sector as capital rotates out of high-growth AI stocks and into industrial sectors.