Why Broadcom Stock Fell 10% in September
Shares of Broadcom (NASDAQ: AVGO) were moving lower last month after the semiconductor designer known for network solutions and other chips offered underwhelming third-quarter results, and the stock responded to rumors that Google could drop it as a supplier.
According to data from S&P Global Market Intelligence, the stock finished the month down 10%.
As you can see from the chart below, the stock fell at the beginning of the month and continued to slide from there, responding to the broader sell-off in tech stocks as the Federal Reserve projected that interest rates would stay higher for longer.
Source Fool.com
Broadcom Ltd. Stock
€139.10
0.910%
The stock is an absolute favorite of our community with 61 Buy predictions and no Sell predictions.
Based on the current price of 139.1 € the target price of 1407 € shows a potential of 911.5% for Broadcom Ltd. which would more than double the current price.
