Broadcom’s (NASDAQ: AVGO) latest earnings report was a blow to highly bullish investors who bid up shares drastically going into the release. In the seven days leading up to Broadcom's report, shares gained more than 15%, pushing them to never-before-seen levels exceeding $475.
In contrast, Broadcom shares are down about 20% since the report, having dropped as low as $375. This came despite Broadcom posting beats on sales and adjusted earnings per share (EPS) and providing total guidance that was better than expected.
