Broadcom’s Q3 AI revenue guide misses analyst expectations
The PHLX chip index dropped 10% on June 5, its worst single-day loss since March 2020, wiping $1.3 trillion in sector market value.
NVIDIA sits 26% below its 52-week high with a $298 consensus target, while AMD locked a 6-gigawatt Instinct GPU deal with Meta.
AVGO fell 22% in one week after its AI guide missed the $17 billion whisper number, though analysts hold a $522 average price target.
The structural AI infrastructure thesis is unchanged, with key players like NVIDIA trading at $200.42 as of June 10, down 9% over the past month.