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Investors React Negatively to Broadcom’s Earnings

Investors React Negatively to Broadcom’s Earnings

Semiconductor company Broadcom (AVGO), which has recently attracted attention with its hostile takeover bid for Qualcomm (QCOM), reported its fiscal second-quarter results on June 7. Broadcom stock’s fate was the same as that of other chip stocks with high exposure to the wireless market. It fell ~3% the day after the earnings release.