Broadcom shares fall nearly 7% to intraday low amid AI revenue concerns

Broadcom’s stock dropped roughly 6.85% to its lowest intraday level amid investor concerns about the company’s AI revenue trajectory and the composition of its chip product mix. What actually happened The most dramatic single-day damage came on June 4, 2026, when Broadcom shares fell more than 14% following a fiscal Q2 2026 earnings release that landed well below the elevated bar the market had set. The company projected AI revenue of around $17.2 billion, a figure that fell short of what analysts had priced in, wiping out more than $280 billion in market value in a single session. The sell-off was not contained to Broadcom alone. Micron dropped approximately 7% in sympathy. Analysts flagged that a higher proportion of Broadcom’s AI chip shipments consisted of lower-margin custom processors, the kind built to a specific customer’s specification rather than higher-value general-purpose accelerators. Adding to the unease, management declined to raise its long-term targets despite the company having previously reported AI revenue growth exceeding 143% year-over-year. Where the stock stands now As of August 14, 2026, Broadcom shares were trading around $402, within a 52-week range of $...