Advertisement
New Zealand markets close in 5 hours 43 minutes
  • NZX 50

    11,201.06
    -34.88 (-0.31%)
     
  • NZD/USD

    0.6156
    +0.0018 (+0.29%)
     
  • ALL ORDS

    7,245.80
    +22.70 (+0.31%)
     
  • OIL

    77.72
    +1.31 (+1.71%)
     
  • GOLD

    2,045.40
    +5.40 (+0.26%)
     

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.