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Broadcom Sinks 14% After Missing Q2 Estimates, AI Revenue Target Unchanged

2026-06-05 00:37:08

AVGO-1.03%

AMD-3.34%

INTC-0.54%

MU-1.74%

According to Reuters, Broadcom tumbled more than 14% on June 5 after reporting quarterly results that missed Wall Street expectations. The company's market value fell by over $315 billion. For fiscal Q2, Broadcom reported revenue of $22.19 billion, while forecasting current-quarter AI chip revenue of $16 billion, below analyst expectations. The company reiterated rather than raised its fiscal 2027 AI revenue target of $100 billion. The earnings report also pressured other semiconductor stocks including Marvell, AMD, Intel, Micron, and Qualcomm.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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