S&P 500 Opens Lower; Broadcom Misses Guidance
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- S&P 500 is headed for a lower open and its first weekly decline in ten weeks as chip stocks fall after Broadcom missed guidance expectations.
- Broadcom missed analyst expectations with its guidance, prompting Cramer's early sell and causing Oppenheimer and JPMorgan to raise price targets while UBS cut theirs.
- CrowdStrike posted a beat‑and‑raise quarter and lifted its full‑year net new ARR growth forecast to 27.7%, a 5.2‑point increase, even as its shares fell about 10%.
- Alphabet intends to raise $85 billion via a stock sale to fund its AI expansion and compete with Anthropic and OpenAI.
- Quantinuum priced its IPO at $60 a share, raising about $1.7 billion and achieving a valuation above $14 billion.
Why it matters: Investors will see pressure on chip and tech stocks as Broadcom's weak guidance drags the S&P 500 lower, while Alphabet's massive stock sale will fund AI competition, and Quantinuum's successful IPO raises capital for quantum computing.
