Broadcom Falls 19.5% on Demand Worries; Other Chipmakers Down Also
Broadcom
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was down 19.5% in midafternoon, and other communications chipmakers were also down sharply as concerns about
softening chip demand resurfaced after
Cisco Systems
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said it would seek to reduce inventory. Cisco reportedly accounts for 15% of Broadcom's revenue and 10% of the revenue at
PMC-Sierra
(PMCS)
. PMC-Sierra was down 17.3%.
