Semiconductor developer Broadcom’s shares fell 12% in after-hours trading today following an AI chip sales forecast that reportedly disappointed investors.
The company reported fiscal second-quarter revenue of $22.2 billion, in line with analysts’ estimates, while adjusted earnings per share topped projections.
Broadcom shares slid to $421.50 apiece, following an intra-day market cap of $2.3 trillion.
For further details, see the June 1 edition of the Business Journal
