Broadcom's (NASDAQ: AVGO) stock closed at an all-time high of $479.90 on June 2. But as of this writing, it trades at about $345. Let's see why this tech giant's stock declined nearly 30% over those five months -- and where it might close by the end of this year. Broadcom's semiconductor business, which accounted for 70% of its revenue in its latest quarter, produces a wide range of mobile, data center, networking, wireless, storage, and industrial chips. But over the past two years, that segment's growth has been driven mainly by its sales of custom AI accelerators (XPUs) for hyperscalers. When deployed at scale, these XPUs can process AI inference tasks more cost-efficiently than stand-alone GPUs. Image source: Getty Images.
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