Broadcom Inc (AVGO · NASDAQ)

Broadcom shares have fallen sharply over the past three months — down 16.1% and 31.5% below their 52-week high — with the latest session down 4.5% to $328.75 on elevated volume (1.3x the 20-day average). The decline follows a CEO warning about AI capital constraints that has stoked sector-wide concerns about capital intensity and debt, though the company's fundamentals remain strong: revenue grew 85.5% YoY to $89.10B TTM, the most recent quarter posted $29.59B in revenue with $13.09B net income, and the company beat earnings estimates in all of its last four reports. Leverage is modest at 1.1x debt/EBITDA with $23.98B in cash, and quarterly free cash flow of $13.66B reflects a 75.5% gross margin and 54.3% operating margin. The stock trades at a 45.37 P/E against an analyst target of $527.59, with technical indicators (RSI 40, negative MACD, price 7.5% below the 20-day SMA) still pointing downward.