A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) -Broadcom's shares closed down 10% on Friday after the chipmaker's tepid revenue forecast spooked investors betting on robust demand for AI chips to drive strong growth.
Chipmakers are bearing the brunt of Wall Street's lofty expectations after a months-long rally in shares of semiconductor firms, as investors bet heavily on the hardware that supports generative AI technology.
