{"id":982,"date":"2026-06-04T14:13:32","date_gmt":"2026-06-04T14:13:32","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=982"},"modified":"2026-06-04T14:13:32","modified_gmt":"2026-06-04T14:13:32","slug":"broadcom-set-to-shed-300-billion-in-value-as-ai-results-fail-to-impress","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=982","title":{"rendered":"Broadcom set to shed $300 billion in value as AI results fail to impress"},"content":{"rendered":"<div><div><div><ul><li>Summary<\/li><li>Companies<\/li><\/ul><\/div><div><\/div><\/div><div>June 4 (Reuters) &#8211; Broadcom (AVGO.O)<svg><\/svg><span>, opens new tab<\/span> shares slumped more than 14% \u200bon Thursday, dragging chip peers lower, after the company&#8217;s results fell short of lofty expectations around demand for its \u200ccustom AI chips business.<\/div><div>The losses, if sustained, will erase more than $315 billion from the company&#8217;s market value of about $2.268 trillion, in one of the biggest one-day wipeouts ever.<\/div><div>Broadcom&#8217;s crucial role in helping design in-house processors of firms like Alphabet (GOOGL.O)<svg><\/svg><span>, opens new tab<\/span> and Meta (META.O)<svg><\/svg><span>, opens new tab<\/span> that serve as alternatives to Nvidia&#8217;s (NVDA.O)<svg><\/svg><span>, opens new tab<\/span> costly chips has made it one \u200bof the biggest winners of the AI boom.<\/div><div>After years of treading water, its stock has jumped more than eightfold since \u200bChatGPT&#8217;s 2022 launch.<\/div><div>Shares have climbed 38% this year, as of last close, including a 15% rally in \u2060the two weeks ahead of its earnings after rival Marvell Technology&#8217;s (MRVL.O)<svg><\/svg><span>, opens new tab<\/span> strong results.<\/div><div>But Broadcom faces tougher competition and its eye-watering gains \u200bhave left little room for error, analysts said, adding the decision to reiterate, rather than raise, its $100 billion AI revenue forecast for fiscal \u200b2027 disappointed investors.<\/div><div>Its second-quarter revenue of $22.19 billion also missed expectations, while its current-quarter AI chip sales forecast of $16 billion was slightly below Wall Street estimates.<\/div><div>Still, the $16 billion would mark an over three-fold jump from about $5.2 billion a year ago. The $100 billion forecast given in March also shows how quickly the company \u200bhas gained ground in the chip race. AI revenue stood at just $20.2 billion in fiscal 2025.<\/div><div>It is &#8220;a classic case of very \u200bhigh expectations meeting a market that wanted perfection,&#8221; Matt Britzman, senior equity analyst at Hargreaves Lansdown, said. &#8220;Broadcom is one of the more exciting names in \u200cthe \u2060AI infrastructure buildout, but it also came into results as one of the higher-risk names.&#8221;<\/div><h2>SECTOR FEELS THE HEAT<\/h2><div>The results sparked a selloff in chip stocks, with Marvell down nearly 5%, while AMD (AMD.O)<svg><\/svg><span>, opens new tab<\/span>, Intel (INTC.O)<svg><\/svg><span>, opens new tab<\/span>, Micron (MU.O)<svg><\/svg><span>, opens new tab<\/span>, and Qualcomm (QCOM.O)<svg><\/svg><span>, opens new tab<\/span> fell between 1.6% and 6.5%. The stocks had gained sharply earlier this week thanks to a flurry of positive announcements at Computex.<\/div><div>To be sure, Broadcom CEO Hock Tan said the company \u200bnow expects to ship more than \u200b10 gigawatts&#8217; worth of AI \u2060chips in 2027, a slight increase from previous estimates.<\/div><div>Executives also said the company was &#8220;very comfortable&#8221; amid the memory chip supply crunch, having secured supply for 2026 and 2027.<\/div><div>Confident of the company&#8217;s long-term prospects, \u200bat least 22 analysts raised their price targets on Broadcom&#8217;s stock, pushing the median view to $500, \u200baccording to LSEG \u2060data. That represented a more than 4% upside to the stock&#8217;s last close.<\/div><div>The stock trades at 29.90 times its forward earnings estimates, compared with Marvell&#8217;s 61.70 multiple and the broader S&amp;P 500 index&#8217;s (.SPX)<svg><\/svg><span>, opens new tab<\/span> 27.94.<\/div><div>&#8220;We suspect the shares may take a pause for the next couple of quarters. \u2060But the \u200bstory gets interesting again once we enter 2027,&#8221; Bernstein analyst Stacy Rasgon said \u200bin a note.<\/div><div>&#8220;If we have to wait a quarter or two for that story to re-emerge, that&#8217;s OK, we&#8217;ll wait for it.&#8221;<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Rashika Singh\" class=\"wp-image-981\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/0c9c45b621a3d7675a4f94896daff29c.avif\"\/><\/figure>\n<\/noscript><\/div><div>Rashika Singh<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Instagram<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=979\">Amazon unveils new AI warehouse robot in $12 billion Europe push<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=977\">Nvidia CEO mounts charm push in South Korea with TV talk show, baseball appearances<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=975\">SpaceX sets $135 price for blockbuster IPO, upending Wall Street convention<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Broadcom shares slumped more than 14% \u200bon Thursday, dragging chip peers lower, after the company&#8217;s results fell short of lofty expectations around demand for its \u200ccustom AI chips business.<\/p>\n","protected":false},"author":1,"featured_media":980,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[84],"class_list":["post-982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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