Keyword → chip stocks selloff

Broadcom AVGO Q2 FY2026 AI Revenue Hits Record $10.8B, Up 143% — Stock Falls 14% After Hours on Q3 AI Guide of $16B Missing $17.2B Buy-Side

Broadcom reported fiscal Q2 2026 AI semiconductor revenue of $10.8 billion — up 143% year-over-year and above its own $10.7 billion forecast — with total revenue of $22.2 billion, up 48%, and record free cash flow crossing $10 billion for the first time. Shares plunged approximately 14% after hours despite the beat, as Q3 AI revenue guidance of roughly $16 billion landed below the $17.2 billion buy-side whisper and the company held its full-year AI target unchanged rather than raising it.

Dow Jones Sets Record 51,561 Close on June 4 as Chip Selloff Fuels Rotation Into UnitedHealth +5%, JPMorgan +3%, Walmart +1% — BofA Flags Summer Pullback Risk

The Dow Jones Industrial Average surged 874.86 points, or 1.73%, to a record close of 51,561.93 on Thursday as investors rotated aggressively out of semiconductor names into non-tech large caps following Broadcom's after-hours selloff. UnitedHealth Group gained more than 5%, JPMorgan Chase rose 3%, and Walmart added nearly 1%, while the Nasdaq lost 0.09% and the S&P 500 rose just 0.41% to 7,584. Bank of America strategists reiterated their summer pullback warning, noting that Intel and Micron have each tripled year-to-date in 2026.