Why Broadcom Stock Sank Today

Broadcom (NASDAQ: AVGO) might be on the front line of the artificial intelligence (AI) revolution, but that enviable position wasn't reflected in its stock market performance on Monday. Investors traded out of the tech hardware specialist's shares following an analyst's price target cut. Although the share price decline wasn't drastic, Broadcom landed in negative territory, down 0.2%.Before market open, RBC Capital's Srini Pajjuri reduced his fair value assessment of Broadcom stock to $340 per share. This wasn't far down from his previous level of $370. In making the change, Pajjuri maintained his sector perform (hold, in other words) recommendation on the company. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool