Broadcom stock drops 12.6% after Q2 earnings; Bank of America resets price target
By
Vuk Zdinjak
1mo ago· 4 min readenNews
Summary
Broadcom (AVGO) stock dropped 12.59% on June 4, losing about $280 billion in market value after releasing its Q2 FY26 earnings report. Despite the sharp decline, the stock remains up 21.04% year-to-date, outperforming the S&P 500's 11.02% gain. Bank of America has reset its price target for Broadcom following the earnings release. The fabless semiconductor and enterprise software company has benefited from the broader semiconductor rally.
Source
bskyBroadcom stock drops 12.6% after Q2 earnings; Bank of America resets price targetbit.lyKey quotes
· 4 pulledBroadcom (AVGO) stock closed the June 4 trading session down 12.59% at $418.91.
The stock took a tumble following the release of the second-quarter (Q2) fiscal year 2026 (FY26) earnings report on June 3, and lost about $280 billion in market value.
The stock is up 21.04% year to date, as of Friday morning, June 5.
The fabless semiconductor giant and enterprise software infrastructure vendor has outpaced the S&P 500, thanks to its participation in the broader semiconductor rally.
Broadcom (AVGO) stock closed the June 4 trading session down 12.59% at $418.91.
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