Broadcom stock surged late Thursday after the company posted better-than-expected earnings. The strong results from the semiconductor maker could provide some relief to the beaten-down AI trade. For its fiscal first quarter ending January,

Broadcom (NASDAQ:AVGO) shares rose 8%  in extended-trading on Thursday after the semiconductor and software giant reported first-quarter results and guidance that topped expectations and suggested artificial intelligence spending has not slowed down.

Broadcom ( AVGO -5.61%) stock is losing ground today. The company's share price was down 5.8% as of 2:30 p.m. ET. Meanwhile, the S&P 500 index was down 2% at the same point in the day's trading, and the Nasdaq Composite index was down 2%.

Polen Capital, an investment management company, released its “Polen Focus Growth Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The U.S. equities have experienced a significant performance surge over the past two years.

Intel rivals Taiwan Semiconductor Manufacturing Co and Broadcom are reportedly exploring potential deals that could split the storied American chip giant.

It has been a tough start to the year for Broadcom (NASDAQ:AVGO), and shares have fallen almost 20% as 2025 enters its third month. Much of

SOA Wealth Advisors LLC. lifted its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 50.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).

Stocks Analysis by Investing.com (Damian Nowiszewski) covering: Intel Corporation, Broadcom Inc. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com

Broadcom investors evidently don't like the idea of the company potentially using Intel as its manufacturer, and sent the stock down by as much as 4.2% today. Broadcom's shares fell by 2.2% as of 11:25 a.m. ET.