Broadcom Inc. Chief Executive Officer Hock Tan, who created the chip behemoth using a series of acquisitions, said the company is now less focused on dealmaking because AI offers stronger growth potential.

Sometimes, a market shows its character by what it doesn't do.

Broadcom is likely one of the most highly rated stocks on Wall Street, with more than 93% of analysts covering the stock rating it a buy or strong buy. After the company's robust financial report this week, the stock plunged, but a broad cross-section of Wall Street's finest released bullish missives about Broadcom, and there's a recurring theme.

Broadcom shares sank and dragged the entire chip sector with them as the company missed on Q2 revenue and left AI guidance unchanged. Jefferies recommends buying the dip in AVGO stock.

Technology was the only sector to experience a meaningful decline, as capital shored up in Health Care and Financials.

U.S. chipmakers plunged in premarket trading after Broadcom earnings disappointed investors.

Broadcom held the line on its AI guidance for its upcoming third quarter on Wednesday night, but the stock still fell 15% on Thursday morning. That counterintuitive outcome sits at the center of KeyBanc Capital Markets analyst John Vinh’s reaction on CNBC’s Squawk Box,

Broadcom is going to sell more than $100 billion worth of AI chips next year. That cost the company around $300 billion in market value Thursday. Broadcom used its fiscal second-quarter report to affi

Broadcom reported weaker-than-expected revenue in its fiscal second-quarter earnings report on Wednesday. Leading up to the report, revenue has surged in recent quarters, driven by demand for custom AI chips.

Broadcom Inc. shares plunged by the most in more than 16 months after the company’s forecast for sales of its artificial intelligence chips disappointed investors.