Broadcom and Intel stocks experienced significant declines following Broadcom's disappointing revenue guidance. On June 4, 2026, Broadcom shares fell 13%, erasing $286 billion in market capitalization, marking it as the fourth largest one-day loss in U.S. history. Despite an earnings beat, investors were spooked by the revenue forecast and comments about Google diversifying its supply chain. Other semiconductor stocks, including Micron, AMD, and Intel, also faced losses, indicating a potential end to the chip rally that had seen the PHLX Semiconductor Index rise 92% in 2026. Market sentiment is cautious as investors reflect on whether this selloff is temporary or indicative of a broader trend.

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Broadcom and Intel Stocks Drop. The Chip Selloff Has Legs.

By George Glover

June 05, 2026, 6:55 am EDT

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Broadcom’s so-so revenue guidance late Wednesday spooked investors, sparking a selloff in tech stocks. (Justin Sullivan/Getty Images)

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Broadcom shares plummeted 13% Thursday, erasing $286 billion in market capitalization, a record fourth-largest one-day wipeout.
Broadcom’s revenue guidance, despite an earnings beat, disappointed investors, leading to wider chip stock declines Friday.
The PHLX Semiconductor Index, up 92% in 2026, slipped over 2% Thursday, signaling a potential halt to the chip rally.

Investors hoping the Thursday chip selloff was a one day thing are set to be disappointed Friday.

Chip makers have powered the market to record highs in recent months—but the rally may be about to grind to a halt as some of the leading semiconductor stocks are on track for a second straight day of losses.

Broadcom

AVGO\ \ -12.59% shares slipped 1.7% to $412 ahead of Friday’s opening bell, having plummeted 13% on Thursday after so-so revenue guidance overshadowed a fiscal second-quarter earnings beat.

The selloff on Thursday erased $286 billion in market capitalization—the fourth largest one-day valuation wipeout for any U.S. company on record, according to Dow Jones Market Data.

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Other chip stocks were also on course for more losses on Friday. Micron Technology

MU\ \ -7.74% dropped 3.2%, Advanced Micro Devices AMD\ \ -3.56% slid 2.6%, Intel INTC\ \ -0.83% declined 2.8%, and Marvell Technology MRVL\ \ +4.90% fell 3% in premarket trading.

Created with Highcharts 9.0.1Source: FactSetAs of June 4, 3:50 p.m. ET

Created with Highcharts 9.0.1MicronAMDBroadcomIntelMay 29June-15-10-505101520%

Broadcom’s revenue guidance late Wednesday just about beat analysts’ expectations, but failed to wow investors. Shares carried on dropping after CEO Hock Tan said on an earnings call that major custom-chip client Google was likely diversify its supply chain.

The question for investors is whether the mediocre outlook will cause the whole chip rally to grind to a halt. The PHLX Semiconductor Index is up 92% in 2026, but it slipped more than 2% on Thursday.

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Barron’s argued last week that chip stocks’ stellar gains wouldn’t last much longer—but the sector’s highest-quality names will carry on beating the market. Those are Nvidia, AMD, Broadcom, Taiwan Semiconductor Manufacturing Co., and Micron.

Write to George Glover at george.glover@dowjones.comExternal link

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AMD, Broadcom, Quantinuum, and More Stocks That Explain Today’s Market

By George Glover

June 05, 2026, 7:02 am EDT

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Traders working at the New York Stock Exchange. (NYSE)

Investors have been slamming the brakes on the artificial-intelligence rally and that has put the S&P 500’s run of weekly gains under threat.

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Broadcom Derails the Tech Rally. It’s All on SpaceX’s IPO, Now.

Updated June 04, 2026, 8:07 am EDT / Original June 04, 2026, 6:45 am EDT

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(Justin Sullivan/Getty Images)

U.S. stocks are facing the prospect of their first set of back-to-back losses since mid-May, with the S&P 500

SPX\ \ +0.41% and the tech world in retreat following a muted set of forecasts from AI chip maker Broadcom AVGO\ \ -12.59% that looks to have shaken the market’s hottest trade a week ahead of its biggest IPO.

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