The stock market was little changed on Friday, as weakness in technology and semiconductor stocks weighed on investor sentiment. Overall, investors remained focused on corporate earnings, inflation risks, and the outlook for technology spending.
Overall, S&P 500 was flat at 7,805, while Nasdaq fell 0.2% to 27,204.
Chart of the Day
Here is the one-year chart of Broadcom (AVGO) as of September 22, 2026, when the stock was at $365.
Strong AI semiconductor demand continued to fuel Broadcom’s growth. Last quarter, revenue from the company’s semiconductor solutions surged 127% as AI semiconductor revenue accelerated 221%, on account of strong demand for custom AI accelerators and AI networking. This drove Broadcom’s exceptional profit growth of 96% on an impressive 86% increase in revenue.
In the earnings call, management said Broadcom’s AI chip revenue is forecasted to rise 186% in 2026. The company has also secured commitments from Google, Anthropic, OpenAI and Meta and now expects to double its AI revenue in 2027 to around $115 billion.
Broadcom is growing exceptionally fast right now. Profit growth was 96% last quarter and is projected to be 96%, 99%, and 82% the next three quarters.
AVGO is part of the Growth Portfolio and Focus List. It is a key contributor to the AI movement, and its stock should be a core holding for growth stock investors.
