Broadcom stock plunges nearly 9%: what AVGO's sell-off signals for tech investors
Broadcom stock (NASDAQ: AVGO) plummeted nearly 9% on Friday after the chipmaker warned that surging AI revenue would carry lower profit margins. The development disappointed investors who had been betting on the company's transition into custom chips for hyperscalers. Friday's sell-off came despite the company beating Wall Street estimates with fiscal Q4 revenue of 19.1 billion, both well above consensus expectations. Broadcom's stock plunge on Friday raised a critic ...