Why Broadcom, Arista Networks, and Rambus Fell Today
Shares of artificial intelligence (AI)-related tech stocks (NASDAQ: AVGO), Arista Networks (NYSE: ANET), and Rambus (NASDAQ: RMBS) were all down in Tuesday trading, off by 2.7%, 3.7%, and 3.9%, respectively, as of 1 p.m. ET.
There wasn't much material news around these stocks today, but certainly a jump in long-term bond yields following some recent economic data is making investors jumpy that interest rates won't come down as much or as quickly as thought. And that's doubly true for higher-multiple stocks related to the artificial intelligence buildout.
One Broadcom insider seems to agree that the company's stock has had a good run, with the company disclosing yesterday a key executive sold over $3 million in stock last week.
Source Fool.com
Broadcom Ltd. Stock
The stock is an absolute favorite of our community with 42 Buy predictions and no Sell predictions.
As a result the target price of 1380 € shows a slightly positive potential of 4.18% compared to the current price of 1324.6 € for Broadcom Ltd..
