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One of Wall Street’s hottest trades suddenly went ice cold last week.
Semiconductor giant Broadcom, Inc. (AVGO) reported earnings after the bell last Wednesday.
The company posted 48% year-over-year revenue growth and 54% year-over-year earnings growth. Both were a slight surprise.
But investors weren’t satisfied after the company maintained its previous forecast for semiconductor revenue of $100 billion. And that sent Broadcom shares plummeting more than 25% on Thursday and Friday.
