Broadcom loses $300 billion in market value after AI outlook disappoints (opens in new tab)

Broadcom shares fell as much as 15% on Thursday, wiping out roughly $300 billion in market value, after the chipmaker’s fiscal second-quarter revenue and artificial-intelligence chip outlook failed to meet investors’ expectations. The stock had closed Wednesday at an all-time high of $495 before dropping in extended trading and early U.S. trading. The company reported record quarterly revenue of about $22.2 billion, up 48% from a year earlier, while adjusted earnings per share rose to $2.44 a...