Broadcom stung by Huawei ban, dragging US chipmaking industry down

CNN | Jun 14, 2019 at 1:09 PM
  • New York (CNN Business)Chipmaker Broadcom is hurting as the United States’ crackdown on Huawei continues to reverberate and the global economy slows.
  • Broadcom’s (AVGO) stock sank 8% in early trading after it missed analysts’ revenue expectations and slashed its full-year revenue outlook by $2 billion.
  • Other chip stocks fell in unison with Broadom in Friday trading: Advanced Micro Devices (AMD), Micron Technology (MU), Nvidia (NVDA) and Qualcomm (QCOM) all opened down more than 2%.