By @SiliconANGLE
Publication Date: 2026-06-03 23:32:00
Shares of the chipmaker Broadcom Inc. came crashing down to Earth in late trading today after it reported weaker-than-expected second-quarter revenue.
The stock fell a bit initially, and then much more after Chief Executive Hock Tan declined to raise the company’s full-year guidance for artificial intelligence chip sales beyond the current $100 billion forecast range.
Broadcom, which has regularly blown away Wall Street’s forecasts in recent quarters, struggled to impress today. The company reported earnings before certain costs such as stock compensation of $2.44 per share, edging past the Street’s target of $2.40 per share.
However, revenue came to just $22.19 billion, up 48% from a year earlier but below the $22.27 billion analyst consensus estimate. It was the first time the company came up short of the Street’s targets since December 2024, following a series of impressive quarters driven by demand for AI processors such as Google LLC’s tensor processing…
