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News  ›  Benzinga

Broadcom Stock Plummets As Beijing's Security Directive Strikes

Benzinga Logo Benzinga By Evette Mitkov
Broadcom Stock Plummets As Beijing's Security Directive Strikes

Broadcom shares fell 5.40% after Chinese regulators instructed domestic companies to phase out cybersecurity software from U.S. and Israeli firms, including Broadcom-owned VMware, Palo Alto Networks, Fortinet, and Check Point Software, citing national security concerns over potential data collection.

Insights
CBRE   positive

Advancing net-zero strategy by integrating low-carbon technologies, expanding electrification, and delivering science-based targets


AVGO   negative

Stock declined 5.40% due to Chinese regulatory directive targeting its VMware subsidiary. The ban threatens revenue from Chinese operations and signals escalating U.S.-China tech tensions.