Broadcom's AI Expansion Triggers Stock Plunge

Broadcoms shares plummeted over five percent in afternoon trading, extending a multi-day decline following a warning from management about the impact of their expanding AI business on gross profit margins. This guidance, coupled with Oracles announcement of massive capital expenditure increases, spooked investors, leading to a significant sell-off. Despite the recent drops, Broadcoms shares are still up nearly forty percent since the beginning of the year, making it a volatile stock with numerous price movements over the past twelve months.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.