Broadcom Stock Is Down More Than 22% From Its Peak and Worth a Closer Look
Broadcom looks like a great stock to buy after its recent pullback.
Overview
The tech sector has been under some pressure recently, and one stock that has been hit hard is Broadcom (NASDAQ: AVGO). After hitting a record high of $495 in early June, the stock has now lost more than 22% of its value.
The stock took an initial hit following its fiscal Q2 earnings results, as it failed to lift its fiscal 2027 guidance for AI chip revenue. This seemed to be a clear overreaction, as there was no real reason for Broadcom management to raise a forecast more than a year away. The company is still projecting that its AI chip revenue will grow to well over $100 billion in fiscal 2027, a huge number given that it produced under $64 billion in fiscal 2025 revenue.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.
Related Articles
- Oil may no longer pose the same threat to the global economy — but another risk ‘may be around the corner,’ says Citigroup
- U.S. stock market sees first outflow since March. And that may set the stage for a risk-off summer.
- ‘I’ll happily wait’: Does delaying Social Security make sense for high earners like me?