Stock Track | Broadcom Plummets 5.04% on AI Slowdown Fears Despite Bright Long-Term Outlook

Stock Track12-19 03:10

Broadcom Inc. (AVGO) shares plummeted 5.04% on Wednesday, following a two-day surge that briefly pushed the company's market value above $1.2 trillion. The chipmaker's stock was caught in a selloff amid concerns of a potential slowdown in AI demand, despite its robust earnings report and bullish long-term outlook for AI-related business.

Last week, Broadcom reported strong fiscal fourth-quarter results, with revenues and earnings increasing year-over-year, driven by robust demand for its custom AI accelerators (XPUs) and networking solutions. The company's AI connectivity revenues quadrupled, fueled by global shipments of its Tomahawk and Jericho solutions.

Furthermore, Broadcom's CEO Hok Tan predicted the revenue opportunity in AI chips and AI networking would skyrocket to between $60 billion and $90 billion by 2027, as hyperscalers like Google, Meta, and ByteDance plan to build massive clusters of custom XPUs across their networks. This bullish outlook sparked a 38% surge in Broadcom's stock price over Friday and Monday, adding over $324 billion to its market capitalization.

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(AVGO) shares plummeted 5.04% on Wednesday, following a two-day surge that briefly pushed the company's market value above $1.2 trillion. 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The chipmaker's stock was caught in a selloff amid concerns of a potential slowdown in AI demand, despite its robust earnings report and bullish long-term outlook for AI-related business.Last week, Broadcom reported strong fiscal fourth-quarter results, with revenues and earnings increasing year-over-year, driven by robust demand for its custom AI acce","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AVGO":"博通"},"translate_title":"尽管长期前景光明，博通仍因人工智能放缓担忧而暴跌5.04%","themeId":"b5a00ae8064cad718b5fe150308df77c","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVGO":1},"content_text":"Broadcom Inc. (AVGO) shares plummeted 5.04% on Wednesday, following a two-day surge that briefly pushed the company's market value above $1.2 trillion. 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