Why Broadcom Stock Is Sinking Today

Broadcom (NASDAQ: AVGO) stock is heading lower in another day of bearish trading for artificial intelligence (AI) companies. The semiconductor specialist's share price is down 2.6% as of 2:45 a.m. ET. Meanwhile, the S&P 500 had fallen 0.4%, and the Nasdaq Composite had sunk 0.5%.Concerns that AI stocks may be in a valuation bubble have continued to shape momentum for the broader market Friday, and a new report on consumer confidence from the University of Michigan is also contributing to pullbacks. While Broadcom stock has seen a pullback from the record high it reached at the end of last month, its share price is still up 48% year to date. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool