Broadcom (AVGO) Shares Continue Decline Amid AI Spending Concern

Broadcom (AVGO, Financial) witnessed a further dip in its stock, dropping over 4% on Thursday, prolonging a downtrend to four consecutive days. This decline sees the shares slipping below the significant 200-day moving average, signaling potential caution for investors. The stock, surging post-earnings on March 7, has since receded nearly 20% due to growing concerns over the sustainability of AI spending and fears of an economic downturn. Analysts note the next major support level is…