The Philadelphia Semiconductor Index dropped 2% after Broadcom's AI chip revenue forecast missed Wall Street estimates by $1.2 billion despite record Q2

(Corrects typo in headline)By Anhata Rooprai, Zaheer Kachwala and Stephen NellisJune 3 : Chipmaker Broadcom missed Wall Street expectations for second-quarter revenue on Wednesday…

Broadcom forecast that AI semiconductor revenue will be $16 billion in Q3, missing analyst estimates of $17.2 billion.