Broadcom shares dropped significantly after its AI chip business results missed high expectations. This decline affected other chip companies too. Despite the setback, Broadcom's long-term AI revenue forecast remains strong. Analysts are watching closely as the company navigates increased competition and investor sentiment.

June 3 : Broadcom missed Wall Street expectations for second-quarter revenue on Wednesday, as increased competition in the custom semiconductor market hurt gains from its AI…

(Corrects to say adjusted profit beat estimates, not trailed, in paragraph 7)June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting…