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Broadcom Stock Falls Despite Earnings Beat. CEO Says AI Chip Demand Is Boosting Revenue.

Broadcom stock fell after the chip maker’s solid earnings results failed to satisfy investors. On Thursday, the semiconductor company reported adjusted earnings per share of $11.06 for the fiscal fourth quarter, topping the Wall Street consensus for $10.96 a share. The chip maker’s stock traded down as much as 2.3% to $901.15 following the release Thursday.
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