TradingKey – Broadcom (AVGO) hit a recent intraday low of $335.80 on September 16, down 32% from its all-time high of $494.20 and virtually erasing its year-to-date gains.

Yet just a few months ago, Broadcom was hailed by the market as the most certain winner in AI computing power, but it has now become a “cautionary tale of missed expectations.”

It all traces back to the Q2 FY2026 financial report released on June 3. AI semiconductor revenue hit $10.8 billion, up 143% year-over-year, while Q3 guidance projected year-over-year growth of over 200%. However, management merely reiterated its goal of “exceeding $100 billion in AI chip revenue by FY2027” as “unchanged” and refused to raise it. Market expectations, priced at a P/E ratio of…