Nasdaq futures are down 1.16% while S&P 500 futures have shed 0.46%.Although Broadcom delivered strong quarterly results, investors were underwhelmed by its AI outlook. The company maintained its long-term forecast for AI semiconductor revenue above $100 billion by fiscal 2027 rather than raising it, and projected fiscal third-quarter AI revenue that largely matched lofty expectations.With valuations across the AI trade reflecting aggressive growth assumptions, the absence of a meaningful guidance increase triggered profit-taking.Rasgon Says AI Guidance Drove The SelloffBernstein senior equity analyst Stacy Rasgon told CNBC that Broadcom’s post-earnings selloff was driven by AI guidance rather than the quarter itself, which he described as solid.He noted the company’s third-quarter AI semiconductor revenue forecast of $16 billion fell short of investor expectations of roughly $17 billion or more.Rasgon said AI revenue is likely to remain uneven as Broadcom shifts Anthropic-related sales from full AI racks to higher-margin chips.Despite the pullback, Rasgon maintained a positive view on Broadcom, citing attractive valuation, strength in its TPU ecosystem and long-term demand for AI compute infrastructure.Analyst Consensus & Recent ActionsThe stock carries a Buy rating with an average price forecast of $513.68. Recent analyst moves include: