Broadcom shares slip in wake of Micron Tech's worries
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Broadcom (NASDAQ:AVGO) shares slipped close to 2% Tuesday as the communications chipmaker added to losses that dragged its stock price down by more than 16% in June.
There was no direct news seeming to weigh on Broadcom's (AVGO) shares as trading progressed. However, the chip sector got a bit a of bad news last Thursday when memory chipmaker Micron Technology (MU) gave a weaker-than-expected fiscal fourth-quarter forecast, and mixed third-quarter results. Micron (MU) said that for its fourth quarter, its expects revenue to be between $6.8B and $7.6B, while analysts had previously forecast Micron (MU) to post sales of $9.05B for the period.

Some analysts said Micron's (MU) outlook suggests a "substantial" correction in semiconductor demand and inventories is the works for the sector.
For its part, Broadcom (AVGO) recently reached a agreement to acquire VMWare (VMW) for $69B, in a deal that may see a long review process from European antitrust regulators.