US Stock Market News | AI-related product business growth falls short of expectations, Broadcom drops more than 9%
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On Friday, Broadcom's stock price fell after announcing its latest performance, with the stock dropping over 9% to $138.7 as of the time of publication. The growth of the company's AI-related product business was below expectations. In the third quarter, Broadcom's semiconductor solutions business, including AI custom chips, unexpectedly slowed down in revenue growth, dropping from 6% in the previous quarter to 5%, which is lower than analysts' expected 6.8%
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