NEW YORK, July 17, 2026, 13:18 (EDT)
- At 1:03 p.m. EDT, Broadcom shares were at $376.38, showing a 0.5% increase.
- Standard Chartered LON:STAN reports that VMware Cloud Foundation powers 70% of its infrastructure.
- Software reported a segment margin of 78.7% in the second quarter, while semiconductors posted a margin of 61.8%.
Broadcom stock recovered from earlier sharp losses during Friday afternoon trading in the U.S. At 1:03 p.m. EDT, shares were up 0.5% at $376.38, after having dropped 4.4% to $358.05 earlier in the session.
The rebound occurred even as chip stocks stayed weighed down on Wall Street. It also came after the announcement on Thursday of a private-cloud partnership with Standard Chartered. No contract value or anticipated revenue was disclosed by the companies.
Broadcom’s revenue composition is shifting toward lower-margin semiconductor goods. The company forecasts fiscal third-quarter AI semiconductor sales of $16 billion, representing approximately 54% of its projected…