Bank of America resets Broadcom stock price target

Wall Street is experiencing fresh concerns regarding artificial intelligence (AI) spending, as shares of Broadcom and Oracle have declined significantly, contributing to a volatile week for the markets. Broadcom's stock fell sharply after failing to meet investor expectations, while Oracle's disappointing earnings report further exacerbated the situation.

Bank of America shares have reached a closing price of $55.14, marking the first time the stock has hit this level since November 2006, indicating a significant recovery from the financial crisis of 2008.

The S&P 500 index experienced a notable decline, driven primarily by a significant drop in Broadcom's stock, which fell sharply after the company failed to meet investor expectations regarding its artificial intelligence prospects. This downturn reflects broader concerns in the tech sector, particularly following disappointing earnings from other major players like Oracle.

US tech stocks, particularly those of Broadcom, experienced a significant decline, with Broadcom's shares tumbling 11.4% following a disappointing financial forecast that failed to meet Wall Street expectations. This downturn reflects growing investor concerns about the sustainability of the AI boom and its impact on tech valuations.

Bank of America has indicated that gold prices, currently consolidating between $4,200 and $4,300, are more likely experiencing a temporary pause rather than hitting a ceiling. The price of gold has surged dramatically in 2025, rising from approximately $2,630 per ounce to around $4,282, marking an increase of about 63%.

Broadcom's shares experienced a significant decline as concerns over profit margins and the financial stability of OpenAI overshadowed the company's strong earnings report. Despite exceeding earnings expectations and forecasting approximately $19.1 billion in revenue for the upcoming fiscal first quarter, investor sentiment turned negative due to unmet sales outlooks in the AI market.

Broadcom's shares fell sharply after the company failed to meet investor expectations regarding its artificial intelligence (AI) prospects, coinciding with a decline in Nasdaq futures following Oracle's disappointing earnings report. This downturn occurred despite a record close for the S&P 500 after a recent Federal Reserve rate cut.

Broadcom's shares fell after the company's sales outlook for the AI market did not meet investor expectations, despite previously reporting strong earnings and a revenue forecast of $19.1 billion for the upcoming fiscal first quarter. President Trump announced the US's willingness to assist Ukraine's security as part of a peace plan.