iShares Semiconductor ETF is trading 4.1% down today as traders rotate out of high-multiple AI chip names following Broadcom’s latest earnings and AI revenue outlook.
- Broadcom beat AI growth expectations but only reaffirmed its $56 billion AI revenue target, triggering a sharp drop in the stock and profit-taking across the semiconductor sector.
- Broader markets remain mixed as investors favor industrials over growth, while geopolitical tensions and higher oil prices add to risk aversion in tech.