Broadcom Inc is trading 5.1% down at $397.39 as investors continue to digest a reset in AI growth expectations following its June 3 earnings report.
- While AI-driven results were strong, they were overshadowed by softer-than-hoped near-term guidance and an unchanged full-year AI target.
- The stock is also being pressured by a broader pullback in the semiconductor sector and high-growth tech names following stronger-than-expected U.S. jobs data.
- Rising interest rate concerns are weighing on the Nasdaq and chip sector, further impacting investor sentiment.