Broadcom's Stock Struggles Following Revenue Forecast Shortfall Amid S&P 500's Worst Day Since 2020
Broadcom's Stock Performance Amid Revenue Challenges
Broadcom shares are under heavy pressure Friday following a disappointing revenue forecast for the ongoing quarter. The stock is down 9.6% in morning trading and is on pace for its worst single-day performance since it dropped 15.9% on March 18, 2020, according to Dow Jones Market Data.
Analyst Optimism Amidst Declines
Despite the struggles, analysts express positivity. Broadcom’s AI growth story appears strong, with evidence of high demand and a favorable outlook for 'strong' growth next year, as noted by Bernstein's Stacy Rasgon. Furthermore, the company is performing well with VMware, exceeding expectations and poised for continued growth.
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