Broadcom Is 24% Off Its High and Just Unveiled a Custom AI Chip With OpenAI. Time to Buy the Dip?

Broadcom's stock has fallen 24% from its 52-week high despite posting exceptional AI chip growth of 143% year-over-year in Q2, with revenue reaching $10.8 billion. The company and OpenAI unveiled Jalapeño, a custom AI inference chip, and management projects over 200% AI revenue growth this quarter. While the analyst views this as a buyable dip at 19x forward earnings, risks include customer concentration, custom chip pricing limitations, and AI market volatility.