AVGO is trading at $321.49 (-3.53%) after opening lower, aligning with a sharp Nasdaq decline of 2.52% driven by Microsoft’s 11% plunge on slowing Azure growth and high AI capex.
- Broader tech rotation and AI cost concerns are weighing heavily on the semiconductor sector.
- There is no AVGO specific news, such as earnings or announcements, driving today's movement.
- Recent analyst praise from Goldman Sachs highlighting its AI chip strength failed to counter the significant market-wide sector sell-off.