The chipmaker extended losses after posting weaker-than-expected earnings, putting it on track for one of the market’s sharpest single-day value declines.
Broadcom shares fell 16% on the day after the company posted weaker-than-expected earnings. The move put the stock on pace to wipe out about $350 billion in market value in a single session, underscoring how sharply investors can reprice large-cap technology names when results miss expectations.