Micron Shares Drop as Broadcom's Disappointing AI Guidance Sparks Semiconductor Sell-Off
Broadcom’s disappointing third-quarter AI chip guidance triggered a selloff in the semiconductor sector, dragging down Micron shares by 7%. Despite strong Q2 results and robust year-over-year growth in AI revenue for Broadcom, its below-estimate forecast caused AVGO to fall 14%, with ripple effects across memory chip stocks.