Broadcom Inc. has experienced a significant decline in its shares over the past five days, marking its worst performance in over two years. The company has lost more than $100 billion in market capitalization during this period, dropping from a peak of $851 billion to its current value. This loss is greater than the entire valuation of Boeing Co. and close to that of Intel Corp. Analysts, however, remain optimistic about the stock, with 36 out of 42 tracked by FactSet giving bullish ratings and an average price target 19% above current levels. Despite recent declines, Broadcom continues to be a preferred choice in the AI space, with Morgan Stanley analysts expressing their favoritism towards the company over Nvidia. The PHLX Semiconductor SOX Index rose 1.8% on Tuesday, despite Broadcom’s shares falling 0.7%. This information was provided by MarketWatch, a subsidiary of Dow Jones & Co., and is independent of Dow Jones Newswires and The Wall Street Journal.
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https://www.morningstar.com/news/marketwatch/20240625170/broadcom-loses-a-boeings-worth-of-market-cap-during-five-session-slide
