The tech sector has been under some pressure recently, and one stock that has been hit hard is Broadcom (NASDAQ: AVGO). After hitting a record high of $495 in early June, the stock has now lost more than 22% of its value. The stock took an initial hit following its fiscal Q2 earnings results, as it failed to lift its fiscal 2027 guidance for AI chip revenue. This seemed to be a clear overreaction, as there was no real reason for Broadcom management to raise a forecast more than a year away.