Broadcom shares fell 2.16% to $318.13 after Citi analyst Atif Malik lowered his price target to $458 from $480. While maintaining a Buy rating, the adjustment signals caution ahead of the company's March 4 earnings release and reflects broader volatility in large-cap AI stocks.
- The decline mirrors general market weakness, overshadowing Alphabet’s massive $185 billion capital expenditure commitment to AI infrastructure.
- The downward trend offset recent optimism following the February 14 launch of Broadcom’s first Wi-Fi 8 solution designed for AI networks.