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The Ratings Game: Chip stocks fall as Broadcom delivers ‘particularly worrisome’ commentary

Chip stocks are falling in Friday trading after Broadcom Inc. gave a gloomy forecast, suggesting more pain could be in store for the semiconductor industry.

For months, chipmakers had been teasing a second-half recovery, but Broadcom’s AVGO, -5.57% commentary indicated that orders have been contracting, reflecting not only the government ban on shipments to Huawei Technologies Co. but also general macroeconomic uncertainty.

”We expect Broadcom’s report to be a preview of what we’re likely to hear from other semi suppliers during July earnings,” wrote Raymond James analyst Chris Caso in a note titled “Weakness Well Beyond Huawei.

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