Broadcom Bombs?
"Broadcom Suffers Worst Stock Drop Since 2020 on Slow Chip Sales" - Bloomberg
"Tech Slides as Broadcom Adds to AI Disillusionment" - DJ
"Broadcom sees dip in quarterly margins due to AI" - Reuters
Shares of Broadcom ( AVGO) are having a rough go this morning after the company reported earnings after the close yesterday.
Despite reporting better-than-expected EPS and sales, as well as raising guidance, the stock is down around 9% this morning as management comments concerning margins and backlog spooked investors.
Several analysts have said the comments were misinterpreted, but the stock's reaction this morning tells another story.
Based on where the stock is trading this morning, today would be just the 7th time since at least 2009 that the stock declined more than 5% on an earnings reaction day, and if it stays at current levels through the close, it would go down as its second-worst earnings reaction day on record.
 |
|
