Broadcom's Stock Drops 10% as Its Non-AI Business Struggles: An Earnings Report Deep Dive

In fiscal Q3, the chipmaker continued to experience strong demand for its products for artificial intelligence (AI) data centers.Shares of Broadcom (AVGO -10.36%) dropped 10.4% on Friday, following the semiconductor and infrastructure software maker's release on the prior afternoon of its report for the third quarter of fiscal 2024 (ended Aug. 4).The decline was likely largely driven by guidance for fourth-quarter revenue being a bit lower than Wall Street had expected. In the current environment for artifi ...