#broadcom Tech News.
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The latest broadcom news, distilled by AI into sharp ~100-word summaries. ByteBrief tracks broadcom across dozens of tech sources and brings you only what matters, updated hourly. Tap any story for the full brief, or open the original source.
Broadcom's AI chip sales rose 143% year over year to a record $10.8 billion in the fiscal second quarter. The company's revenue grew 48% to a record $22.2 billion, led by the semiconductor solutions segment. Broadcom's profit margins held near record levels. The stock fell 13% and 8% after the report, erasing hundreds of billions of dollars in market value. The decline is attributed to the stock's prior climb rather than the company's results.
Broadcom's stock falls 7.49% to $387.52 after failing to raise AI revenue guidance. Revenue reached $22.19 billion in Q2, AI bookings exceeded $30 billion, and gross margin stood at 65.66%. Investors expect rapid conversion of AI chip bookings to revenue to meet a $100 billion AI revenue target by fiscal 2027. The stock's volume surged to 50.3 million shares, 95% above average.
Broadcom misses expectations causing a selloff in US-traded chipmakers. Nvidia drops 6.19%, Micron falls 13.25%, AMD declines 10.86%, and Broadcom drops 7.92%. The market reaction reflects investor concern over semiconductor demand. The drop occurs amid no new product announcements or guidance updates.
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