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Summary
Broadcom (AVGO) fell 1.18% to $322.23 on November 2, 2026, close to the Nasdaq Composite's 1.07% drop.
The session reports reviewed cited no Broadcom-specific cause; according to CNBC, investors kept scrutinizing AI buildout names as Oracle planned a stock and bond sale and Marvell agreed to buy Lumentum.
The stock closed 34.90% below its 52-week high of $495.00; per 24/7 Wall St., CEO Hock Tan has said demand exceeds Broadcom's AI outlook and supply is the constraint.
Gotrade News - In the latest Broadcom stock news, shares of Broadcom (AVGO) fell 1.18% to close at $322.23 on Monday, November 2, 2026, giving back early gains as tech stocks slid.
The session reports reviewed cited no Broadcom-specific cause; according to CNBC, investors kept scrutinizing AI buildout names as Oracle unveiled a stock and bond sale and Marvell agreed to buy Lumentum.
AVGO Trading Data
Data
Value
Closing price
$322.23
Change
-$3.85 (-1.18%)
Previous close
$326.08
Open
$328.44
Day range
$321.87 to $333.56
Volume
20.3 million shares
30-day average volume
22.1 million shares
52-week range
$289.96 to $495.00
Market cap
$1.54 trillion
Regular-session close on Monday, November 2, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 3, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Broadcom opened at $328.44, above Friday's close of $326.08, and climbed to an intraday high of $333.56 before reversing. It finished just $0.37 above the day's low of $321.87. Volume reached 20.3 million shares, 7.86% below its average of 22.1 million.
The decline was 0.11 percentage points steeper than the Nasdaq Composite, which fell 1.07% to 25,164.36. The S&P 500 slipped 0.51% to 7,541.40, while the Dow Jones Industrial Average rose 0.41% to 51,983.98 and the US 10-year Treasury yield fell 3.5 basis points to 4.89%.
Among AI-linked names, Broadcom's drop was close to the 1.26% decline in Nvidia (NVDA), but far milder than Marvell (MRVL), which fell 12.72%, and Oracle (ORCL), down 8.76%. At $322.23, the stock sits 34.90% below its 52-week high of $495.00 and 11.13% above its 52-week low of $289.96.
Why Broadcom Stock Fell
None of the session reports reviewed named a Broadcom-specific cause, and the stock moved almost in step with the Nasdaq. According to CNBC, major AI stocks showed signs of recovery in premarket trading on November 2, but investors then continued to move out of tech and to scrutinize names related to the AI buildout, after a losing October for the Nasdaq and the S&P 500 amid AI spending concerns.
CNBC also reported that Oracle plans to sell $10 billion in common stock and $10 billion in bonds to finance its AI buildout, and its shares fell about 8%. As reported by The Motley Fool, Marvell's $115 billion all-stock agreement to buy Lumentum "sparked investor concerns over dilution and financing risk"; the same report listed Broadcom's 1.18% decline in its semiconductors for data infrastructure group.
A 24/7 Wall St. commentary that morning argued supply, not demand, limits Broadcom's AI business. Per 24/7 Wall St., CEO Hock Tan said on the September 2 earnings call that "Our demand actually exceeds this outlook, and we will work to improve supply," naming leading-edge silicon, substrates and HBM memory among the constraints.
AVGO Stock Analysis: Supporting Factors and Risks
Supporting Factors
AI chip sales are growing quickly: according to 24/7 Wall St., AI semiconductor revenue reached $16.70 billion in the fiscal third quarter, up 221% year over year, and management guided fiscal fourth-quarter AI semiconductor revenue to about $21.7 billion.
Added capacity: Broadcom plans to start making substrates at its Singapore fab in fiscal 2027, with capital spending set to rise to $1.4 billion in the fourth quarter from $532 million, per the same report.
Cash generation: free cash flow was $13.665 billion, or 46% of revenue, and Broadcom cut outstanding debt by $5.6 billion in the quarter, according to 24/7 Wall St.
Risks
Supply constraints: beyond silicon, substrates and memory, Tan also listed land, power and data center shells as limits on delivery.
Margin mix: fourth-quarter guidance includes a gross margin of about 73%, compared with 78% a year earlier, which 24/7 Wall St. attributes to memory-heavy XPUs making up more of the mix.
Concentration and financing: Broadcom works closely with six XPU customers and may provide "modest residual value guarantees" on lab financing deals, per 24/7 Wall St., as CNBC notes the AI buildout faces capital availability concerns.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
