What Sent Broadcom Stock Higher?
For questions about this article or underlying research, email help@trefis.com.
Broadcom (AVGO) stock rose 8.8% on Monday, November 9, 2026, while the S&P 500 gained 2.3%. Broadcom had no earnings report or filing that day. Its only announcements were the date of its next results and an open-source software project. The rise came as Wall Street rebounded from a steep sell-off in technology stocks the week before. What was the market recovering from, and what ties Broadcom to it?
Broadcom Bounced Back As The Market Erased Midterm Losses
The market was making up the ground it lost after the midterm elections, and on Monday the S&P 500 erased those losses. Democrats made big gains in those elections while campaigning against data centers, one investment commentary said. Broadcom fell 10.4% on November 5, and Monday’s gain came two sessions later.
That campaign matters for Broadcom, because more than half of its sales are chips that go into AI data centers. Management said on the September 2 call that AI semiconductor revenue was $16.7 billion in fiscal Q3 2026, or 56% of total revenue. Google, Anthropic and OpenAI are among the customers for the custom accelerators it designs. Its other large business, infrastructure software, brought in $8.8 billion in the same quarter.
Did Broadcom Move With Other Chip Stocks?
Mostly. Broadcom rose with most of the chip group, not on its own, and it rose far more than XLK, the fund that tracks its technology sector, which gained 3.7%. The Nasdaq Composite rose 2.7% the same session. Four of the companies on its peer list, Qualcomm, Marvell Technology, Advanced Micro Devices and Texas Instruments, rose, with Advanced Micro Devices up 13.3%. The group did not move as one, though: NVIDIA, which unsettled investors before the open, fell 4.3%.
Broadcom Stock Is Still Down Over Twelve Months
A single-day advance of this size is rare for Broadcom: only one other session in the prior 365 days brought a gain at least this large. Even so, the stock lost 9.5% over the twelve months to November 9, while the S&P 500 returned 13.7%. Broadcom closed at its 52-week high of $481.57 on June 2, 2026, and has fallen 23.1% over the last three months.
Its lowest close in the past year, $291.53, came on November 5, so Monday’s rise left the stock far closer to its low than to its high. Broadcom trades at 17.1 times its sales over the last twelve months, against 3.1 times for the S&P 500.
The company will report its fiscal fourth-quarter results on Wednesday, December 9, 2026, after the close of trading. Its AI revenue, which management forecast at $21.7 billion for that quarter, is the measure to watch.
Want Some Of Your Money Off This Roller Coaster?
Swings like this come with owning single stocks. The Trefis Income Solution holds 50 dividend stocks that yield about 3x the S&P 500, and in backtests it lost less than the S&P 500 in all 9 big selloffs since 2018.
Spot an error or want more like this? Tell us in 10 seconds.