Citi Cuts Broadcom Target as Stock Slides on Weak Sales
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- Citi revised Broadcom's price target downward after a post‑earnings sell‑off.
- Broadcom shares plunged on weak software sales while the company kept its AI chip forecast unchanged for the year.
- Broadcom was the top decliner on June 5, with the stock sliding despite strong AI results that failed to lift guidance.
Why it matters: Investors see immediate losses as Broadcom's share price fell sharply; analysts like Citi adjust forecasts, affecting the company's valuation and future earnings expectations across the broader market.
