That’s the reality of today’s big tech companies, where shares can tank even when fiscal results are upbeat. Here’s what analysts are saying:Check out other analyst stock ratings.Benchmark: Broadcom's shares shed about 13% Wednesday after-hours despite the company reporting record quarterly results. Acree mentioned four reasons for the massive sell-off:"We expect a further contributor to the stock’s weakness was management’s public acknowledgment that Google, Broadcom’s largest TPU customer, is expected to diversify its TPU supplier base as its own AI compute consumption expands," he said.DA Davidson: Broadcom delivered another strong quarter with rising AI demand. However, Luria said that the company's modest revenue beat and constructive guidance "failed to meet elevated investor expectations."Broadcom's revenue grew 48% year-on-year to $22.2 billion in the second quarter. It topped the consensus of $22.1 billion thanks to AI semiconductors and high demand for XPU and networking solutions. Management's outlook for Q3 reflects 84% year-on-year total revenue growth and 200% AI semiconductor revenue growth. KeyBanc Capital Markets: Broadcom reported revenue of $22.2 billion, slightly higher than the consensus of $22.1 billion. Earnings of $2.44 per share topped consensus of $2.40 per share.Management guided to third-quarter revenues of $29.4 billion, above consensus of $28.3 billion, Vinh said. The adjusted EBITDA guide for the quarter implies earnings of $3.20 per share, above Street expectations of $3.16 per share, he further noted.JPMorgan: Broadcom reported strong results and announced its July quarter guidance ahead of Street expectations. The guidance reflects revenue growth of 84% year-on-year and AI semis revenue growth of more than 200%.AI bookings rose to $30 billion versus $10.8 billion shipped, which significantly increases the backlog, "raising revenue visibility even further," Sur said. The earnings call increased confidence in Broadcom's growth over the next couple of years, AI compute buildout still being in early-innings and the company being "the most strategically entrenched provider of ASIC/XPU compute/networking," he added.Rosenblatt Securities: Broadcom's revenue guidance for the third quarter was due to higher-than-expected software results, Cassidy said. AI revenue and guidance were roughly in-line with consensus estimates, while investors were expecting a beat, he added.Moreover, management only reiterated its fiscal 2027 revenue outlook, which could "intensify investor concerns" around a potential market share loss to Taiwanese semiconductor maker MediaTek, the analyst stated. "Importantly, Broadcom's ASIC programs are developed through deep, multi-year customer engagements, which we believe provides strong longer-term revenue visibility into FY28 and beyond," he further wrote.Cantor Fitzgerald: Although Broadcom reported a beat and raised its outlook, the print was "disappointing" and reflected "less precise execution than what we have come to expect," Muse wrote in a note.He noted four reasons for the disappointment: