Broadcom Earnings Miss Sparks 5.6% Semiconductor Sell-Off, Stocks Rebound
AVGO•Broadcom’s disappointing quarterly results last week triggered a semiconductor sell-off that drove the Philadelphia Semiconductor Index down before it clawed back a 5.61% gain in early trading Tuesday. Broadcom shares recovered alongside Nvidia and a nearly 10% surge in Micron ahead of May CPI data.
1. Broadcom Reports Earnings Shortfall
Broadcom’s latest quarter fell short of market expectations, triggering a sharp pullback in its share price and weighing on semiconductor sector sentiment. The miss amplified concerns over chip demand following mixed results across the industry.
2. Semiconductor Sector Rebounds in Premarket Trading
In early trading Tuesday, the Philadelphia Semiconductor Index surged 5.61%, recovering roughly half of the previous sell-off. Broadcom shares climbed alongside Nvidia while Micron jumped nearly 10%, as investors positioned ahead of the May Consumer Price Index release.
