Broadcom Stock Drops After Strong Earnings -- Time to Buy?

Few artificial intelligence (AI) semiconductor stocks have had a better run than Broadcom (NASDAQ: AVGO) during this current bull market. The stock has posted an average annualized return of 67% over the past three years, which stacks up favorably with Nvidia, Intel, Advanced Micro Devices, and other leading chipmakers.Broadcom stock dropped about 15% in the first quarter due to its high valuation and concerns about margin compression heading into the year. But since April, it spiked 55% to reach $481 per share on June 2, leading up to the second-quarter earnings release on June 3. But since then, the stock has plummeted 21% to $380 as of June 23. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool