Broadcom stock sinks after results show profit pressures, adding to investor fears over AI payoff
Broadcom (AVGO) stock fell more than 11% on Friday after the company's quarterly results revealed investor concerns about the profitability of its AI business. The company reported results late Thursday that topped Wall Street forecasts. The top Google (GOOGL, GOOG) chip supplier reported it received orders from leading AI developer Anthropic (ANTH.PVT) that surged to 200 billion off the chipmaker's market cap after Broadcom guided for a gross margin of ...