New York, June 8, 2026, 19:05 (EDT)
Broadcom shares climbed Monday as investors picked up chip stocks after Friday’s sharp drop. The move helped the stock recover some ground from last week’s heavy post-earnings fall.
Broadcom shares were last at $396.60, climbing 2.8%. They traded between $385.62 and $403.08 intraday. The iShares Semiconductor ETF added 5.8%. The QQQ, which tracks the Nasdaq, was up 1.6%.
Broadcom is getting attention as traders look at it as a marker for the artificial intelligence trade. The company is a supplier of custom AI accelerators and networking equipment for data centers. Its stock came under selling pressure—not because of a lack of growth, but because investors demanded stronger numbers.
Tech lifted the market. The S&P 500 technology sector climbed 1.5% and the Philadelphia Semiconductor Index surged 5.6% as buyers stepped back in after Friday’s selloff cut about $1 trillion from U.S.-listed chip names. Broadcom finished up 2.8% on the day, Reuters said.
“Today looks like a day where investors are doing a little bit of bargain hunting off the big tech selloff,” Rick Meckler, partner at Cherry Lane Investments, told Reuters. But he said the market had been “priced for quite a while for perfection.” Reuters
Broadcom posted fiscal Q2 revenue up 48% to $22.2 billion. AI semiconductor sales jumped 143% to $10.8 billion. CEO Hock Tan said “the momentum continues,” and guided for AI chip revenue to hit $16.0 billion in the third quarter. Both bulls and bears found something to point to in these numbers. Broadcom Inc.
Broadcom shares fell over 14% Thursday. Investors zeroed in on the company leaving its fiscal 2027 AI revenue forecast unchanged. Second-quarter revenue missed, Reuters said, and Broadcom’s guidance for current-quarter AI chip sales came in just under Wall Street targets.
Chip stocks got a lift Monday. Intel rallied 11.2% after a report said Google ordered a batch of tensor processing units, chips used in AI. Marvell added 9.6% after S&P Dow Jones Indices said the stock joins the S&P 500 before the open on June 22. Disappointment in the sector lingered after last week, but the rebound was broad.
Broadcom is in a different spot than Nvidia. Nvidia supplies general-use graphics chips for AI, but Broadcom helps big cloud names like Alphabet and Meta build their own chips, which can cut down on how much they use Nvidia’s expensive hardware, Reuters said.
Software is in the mix too. There are investor concerns that agentic AI, where systems handle tasks with less human oversight, might pull demand away from established enterprise software. CEO Tan pushed back on that on the company’s earnings call. “We’re not seeing it,” Tan said, quoted by TheStreet, which referenced the call. TheStreet
Still, Monday’s bounce could just be a relief trade. If Broadcom doesn’t raise its AI targets for the long-term, or if demand for custom chips drops off, or if VMware software growth can’t make up for tougher hardware pressure, the multiple may stay under pressure. Matt Britzman, senior equity analyst at Hargreaves Lansdown, called the selloff “a classic case of very high expectations” in a market wanting perfection. Reuters
Broadcom stock could stall over the next few quarters, Bernstein analyst Stacy Rasgon wrote in a note, according to Reuters. “We suspect the shares may take a pause for the next couple of quarters,” Rasgon said. Broadcom is growing quickly, but the question for Wall Street is if that pace will satisfy investors now.
