10 Stocks Took a Shocking Nosedive

6. Broadcom Inc. (NASDAQ:AVGO)

Broadcom dropped its share prices for a second day on Friday, shedding 5 percent to finish at $246.93 apiece as investors appeared to have already priced in its impressive earnings performance for the second quarter of fiscal year 2025.

In a statement, Broadcom Inc. (NASDAQ:AVGO) said it netted $4.965 billion during the period, higher by 134 percent than the $2.121 billion in the same period last year.

Revenues also increased by 20 percent to $15 billion from $12.487 billion.

“Broadcom achieved record second quarter revenue on continued momentum in AI semiconductor solutions and VMware. [Second quarter] AI revenue grew 46 percent year-over-year to over $4.4 billion, driven by robust demand for AI networking,” Broadcom Inc. (NASDAQ:AVGO) President and CEO Hock Tan.

“We expect growth in AI semiconductor revenue to accelerate to $5.1 billion in Q3, delivering ten consecutive quarters of growth, as our hyperscale partners continue to invest,” he added.

Broadcom Inc. (NASDAQ:AVGO) also declared a cash dividend of $0.59 per share to stockholders as of June 20 record, payable on June 30.