Broadcom stock falls again as China targets VMware; RBC says OpenAI upside ‘less clear’
Broadcom shares dropped 4.2% to $339.89 premarket after reports that China ordered local firms to stop using foreign cybersecurity software, including VMware. The directive targets over a dozen U.S. and Israeli companies, citing national security. Broadcom also announced a $4.5 billion senior notes offering and began redeeming some VMware-linked debt. The stock fell 4.15% Wednesday amid a broader tech selloff.