Why Broadcom Stock Was Sliding Today

Shares of Broadcom (AVGO -6.04%) were moving lower Friday after the diversified semiconductor company posted solid results in its fiscal 2024 first-quarter earnings report after the market closed Thursday, but failed to raise its guidance.High expectations were also baked into the stock. The company is viewed as a beneficiary of the AI boom, and as its shares have risen in recent months in consequence.As of 11:59 a.m. ET, the stock was down by about 6%. A good -- but not good enough -- quarterBroadcom, whic ...