The ongoing stock market retreat has fueled concerns that the AI bubble may be on the verge of bursting, potentially ending one of the most remarkable bull runs in history—one that created several trillion-dollar companies.
Analysts Warn on the AI Bubble US stocks retreated sharply this week, with top technology companies being the top laggards.
Broadcom (NASDAQ:AVGO) was one of the top laggards as it plunged by 21% from its highest point this year.
Its market capitalization dropped from $2.27 trillion to $1.83 trillion.
Broadcom crashed despite publishing strong financial results, which showed that its revenue jumped by 48%, with the closely-watched AI business growing by over 140%.