Broadcom's AI Business Is Growing Fast. Here's Why the Stock Is Tanking Anyway.
Key Takeaways Broadcom's custom AI chip business is growing rapidly. Wall Street, however, is wary about how much upside that growth suggests. Broadcom (AVGO) on Thursday predicted its AI-related revenue will double year-over-year to 6.5 billion. But the forecast came with a caveat—and that weighed on the shares today. The stock was recently down about 10% in intraday trading. Broadcom expec ...