Reported about 21 hours ago
Broadcom shares experienced a significant drop of 5% to around $247 after the company reported earnings that met Wall Street expectations but failed to exceed them, leading to profit-taking following a recent record high. Investors should keep an eye on critical support levels around $235 and $200, while the important resistance zone to monitor during any recovery is near $265. This market response comes amidst strong expectations for chip demand attributed to advances in AI technology.
Source: YAHOO