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Broadcom shares slide into Sept. 2 earnings after Third Point trim
Third Point’s Q2 reduction comes as Broadcom heads into its fiscal third quarter with record Q2 sales of $22.1 billion and AI semiconductor revenue up 143% year over year.
Broadcom (AVGO) stock pulled back nearly 12% in recent sessions as investors repositioned ahead of the company’s fiscal third-quarter earnings report on Sept. 2, according to Yahoo Finance.
The outlet noted that Third Point has started sounding alarm bells after trimming its Broadcom position in Q2, with the stock recently trading around $380 versus a 52-week high of $495 set earlier this year.
Yahoo Finance said Broadcom has been supported by institutional buying and optimism around an expanding AI semiconductor backlog, including custom accelerator plans, while the broader IT sector has risen about 21% year to date in 2026.
Ahead of the upcoming results, Yahoo Finance pointed to Broadcom’s record fiscal second-quarter performance, including revenue of $22.1 billion, up 48% year over year, and non-GAAP diluted EPS of $2.44. The outlet also cited AI semiconductor revenue growth of 143% year over year to $10.8 billion.