Broadcom shares fell 14.3%, wiping more than $300bn off its market value, after it estimated third-quarter AI chip sales of $16bn, below analysts’ forecasts of $17.2bn. ARM dropped 6.2% and AMD declined 5.8%. Analysts attributed the sell-off to profit-taking after a two-month semi rally and noted that the looming SpaceX IPO could draw funds away from outperforming stocks.