Broadcom Tumbled the Most in the SP500

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Broadcom Tumbled the Most in the SP500

Published on Tuesday, 31 August 2010 17:16 Written by Danny Miller

brcm New York, August 31^st (Tradershuddle.com) – Shares of Broadcom (NASDAQ:BRCM) tumbled the most in the S&P 500 after its shares dropped 6.43% to $29.96.

Broadcom (NASDAQ:BRCM), the provider of chips that enable broadband digital data transmission, fell after analyst and market participants worried that Intel (NASDAQ:INTC), the world’s largest chipmaker, with its acquisition announced yesterday of Infineon will create a formidable rival in the ARM-based processors used in handsets sold by Apple (NASDAQ:AAPL) and other smart phone manufacturers, given Intel’s manufacturing cost structure.

The stock moved downward, with high volume, as 20.2 million shares traded, 2.11 times Broadcom’s average volume of 9.58 million shares.

The stock's 52-week low is $25.76 and its 52-week high is $38.47.

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