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Why Broadcom Stock Was on the Rebound Today

Why Broadcom Stock Was on the Rebound Today

After sliding yesterday on a report by the tech news website The Information that Broadcom (NASDAQ: AVGO) could lose Alphabet's(NASDAQ: GOOG) (NASDAQ: GOOGL) Google as a customer for its AI chips, the company's shares were bouncing back today as multiple sources pushed back on that idea. As a result, Broadcom stock finished Friday up 2.6%, essentially recouping all of its losses from yesterday. Several Wall Street analysts questioned the notion that Google would ditch Broadcom as its tensor processing unit supplier.