Quick Read – AVGO sank 14% after Q3 AI chip guidance of $16 billion missed the $17.2 billion analyst estimate, pulling AMD and INTC lower. – Hock Tan reaffirmed AI semiconductor revenue guidance exceeding $100 billion into 2027, even as hyperscaler AI spending this year nears…
50 billion. – Shares of Broadcom (NASDAQ:AVGO) are down 14% in Thursday morning trading, sinking to around $410 after closing Wednesday at $479.23. The reversal follows the company’s fiscal Q2 2026 earnings release after the close on June 3
The pain is spreading. Advanced Micro Devices (NASDAQ:AMD) is off 4% to around $521, and Intel (NASDAQ:INTC) is down 3% to near $109, even though neither name has company-specific news today. The setup matters.
AVGO stock had been on a tear into the report, hitting fresh all-time highs and gaining 88% over the past year. That left the bar for results extremely high. AI Guidance Disappoints Despite Earnings Beat Broadcom actually beat expectations.