Broadcom just posted some of the strongest revenue numbers in its history. Investors sold the stock anyway.
The chip giant reported fiscal Q2 2026 revenue of $22.2 billion, up 48% from the same period a year ago. AI semiconductor revenue hit $10.8 billion for the quarter, a 143% year-over-year increase.
For Q3 2026, Broadcom projected AI revenue of $16 billion. Analysts had penciled in roughly $17.2 billion. That $1.2 billion shortfall, against a backdrop of sky-high expectations, was enough to trigger one of the largest single-day destructions of market value in megacap history.
On June 4, shares fell approximately 12 to 15%, erasing somewhere between $280 billion and $340 billion in market capitalization in a single session. To put that in perspective, most S&P 500 companies are not worth $280 billion total. Broadcom lost that in a day.
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The selling did not stop there. By late June, the stock was down more than 20% from its recent highs. The cumulative market cap loss since early June reached approximately $520 billion. The broader semiconductor sector shed roughly $1.3 trillion in market value during June.
Strong results, stronger expectations
The company reiterated its full-year 2026 AI revenue target of $56 billion and maintained its longer-term goal of surpassing $100 billion in AI semiconductor revenue by fiscal 2027.
As of early September 2026, AVGO shares were trading in the $365 to $370 range, down from a year’s peak of around $495, a decline of roughly 25% from the top.
Gloria daily close for session Nov 4, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.
Broadcom Inc. and its peers
Company
Price
Market cap
P/E (trailing)
Forward P/E
Annual revenue (USD)
Annual revenue growth
Annual net income (USD)
Operating margin
Broadcom Inc.
AVGO · Price dated Nov 4, 2026 · tokenized AVGOx
120,067,000,000FY ended 2026-01-25, attributable to the company · 10-K
60.4%FY ended 2026-01-25
Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.
Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Nov 4, 2026, 9:22 AM EST. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
