US Stock Market News | AI-related product business growth falls short of expectations, Broadcom drops more than 9%
On Friday, Broadcom's stock price fell after announcing its latest performance, with the stock dropping over 9% to $138.7 as of the time of publication. The growth of the company's AI-related product business was below expectations. In the third quarter, Broadcom's semiconductor solutions business, including AI custom chips, unexpectedly slowed down in revenue growth, dropping from 6% in the previous quarter to 5%, which is lower than analysts' expected 6.8%
According to the information from Zhitong Finance APP, on Friday, Broadcom (AVGO.US) stock price fell more than 9% to $138.7 after announcing its latest performance. The company's AI-related product business growth fell short of expectations. In the third quarter, Broadcom's semiconductor solutions business, including AI custom chips, unexpectedly slowed down, with year-on-year growth slowing from 6% in the previous quarter to 5%, below analysts' expectations of 6.8%