# Broadcom’s underwhelming results are dragging the AI complex and the wider market lower > Source: > Published: 2026-06-04 10:12:45+00:00 # Broadcom’s underwhelming results are dragging the AI complex and the wider market lower The company didn’t raise its AI goal post for next year, despite an $80 billion equity raise from one of its biggest customers. Not a sentence we've been used to writing these last few weeks: artificial intelligence stocks are down, dragging major indices down with them, as [Broadcom](https://robinhood.com/us/en/stocks/AVGO/?source=sherwood) failed to move up its goal post for AI chip revenue. The semiconductor company reported earnings results and gave a full-year guidance that was [just a smidge above Wall Street expectations. ](https://sherwood.news/tech/broadcom-earnings-guidance-top-analysts-expectations/)Perhaps more concerning to investors: on a call with analysts, CEO Hock Tan said the company is keeping its AI semiconductor revenue guidance for its fiscal 2027 at “in excess of $100 billion.” That seems to have have disappointed investors, with the stock off more than 12% in premarket trading. However, it's worth noting that Broadcom came into the print absolutely red-hot; the stock popped earlier this week after one of its biggest customers, [Alphabet](https://robinhood.com/us/en/stocks/GOOGL/?source=sherwood), announced an [$80 billion+ equity raise](https://sherwood.news/markets/alphabets-80-billion-equity-raise-is-a-signal-that-the-ai-party-can-continue/). Trading at around $421 in the premarket puts it back to where it was exactly one week ago, so it's not exactly a huge derailment. Nevertheless, the wider AI complex is under some pressure this morning.[CrowdStrike](https://robinhood.com/us/en/stocks/CRWD/?source=sherwood) — which also came into earnings on a tear — has been given the same treatment by traders overnight, despite beating estimates and boosting its guidance. Elsewhere, [Micron](https://robinhood.com/us/en/stocks/MU/?source=sherwood) and [Sandisk](https://robinhood.com/us/en/stocks/SNDK/?source=sherwood), which last week got Wall Street-high price targets [from Susquehanna](https://sherwood.news/markets/micron-and-sandisk-rally-on-new-street-high-price-targets-from-susquehanna/), fell as well, as did [AMD](https://robinhood.com/us/en/stocks/AMD/?source=sherwood), [Arm Holdings](https://robinhood.com/us/en/stocks/ARM/?source=sherwood), and [Qualcomm](https://robinhood.com/us/en/stocks/QCOM/?source=sherwood). [Marvell Technology](https://robinhood.com/us/en/stocks/MRVL/?source=sherwood), a fellow chipmaker that recently soared after [Nvidia](https://robinhood.com/us/en/stocks/NVDA/?source=sherwood) CEO Jensen Huang called it the next [“trillion-dollar company](https://sherwood.news/markets/nvidia-jensen-huang-says-marvell-will-be-the-next-trillion-dollar-company/),” also gave back some of its latest gains. And, of course when you arrived at a record six consecutive closes by way of AI-powered gains, it stands to reason that when AI falters, the wider market does too. Futures for the tech-heavy Nasdaq Composite fell by 1.1% and the S&P 500 fell by 0.74% as of 6:20 a.m. EST.