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
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.