New York, Jan 24, 2026, 18:27 ET — Market closed.
- Broadcom shares finished down 1.7%, closing at $320.05.
- Fidelity announced it has resolved a lawsuit concerning access to VMware software, now owned by Broadcom.
- Traders are eyeing next week’s Fed moves and major tech earnings for signals on chip stock valuations.
Broadcom Inc. shares dropped 1.7% on Friday, closing at $320.05. The decline followed news that Fidelity Investments settled a lawsuit regarding access to VMware software, which Fidelity described as critical to its operations. The asset manager said Broadcom agreed to keep supplying services and software to its subsidiary, avoiding a court hearing scheduled for next week. “Broadcom’s services to Fidelity will continue uninterrupted,” a Fidelity spokesperson confirmed. (Reuters)
Why it matters now: the case highlights Broadcom’s VMware strategy just as new market-moving catalysts emerge. Broadcom has increasingly relied on…
