Broadcom knocks $2 billion off semiconductor revenue estimates due to Huawei, China tensions

摘要

Semiconductor giant Broadcom Inc. (NASDAQ: AVGO) has reduced its revenue forecasts for fiscal 2019, which ends November 3, 2019, by $2 billion to $22.5 billion. Company management stated the ban on U.S. technology sales to Huawei and overall tensions between the U.S. and China as dampening the demand for semiconductors. Uncertainty these factors have caused has led Broadcom's customers to begin to burn through inventory, the executives say.