Broadcom Inc. (NASDAQ:AVGO) shares traded lower on Monday. The stock has pulled back from recent strength over the past week.
What To Know: Broadcom stock has trended higher over the month of November. Tailwinds which boosted the stock early in the month included overall tech strength, AI optimism and strong financial results from TSMC, Qualcomm, and Navitas.
Shares were propelled further in mid-November by overall market strength following softer-than-expected October inflation data.
However, the stock began to pull back from its strength last week. On Nov. 22, the company announced that it completed its acquisition of VMware Inc (NYSE:VMW). Broadcom stock has continued to pull back into the current week.
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AVGO Price Action: Shares of AVGO were up 0.02% at $950.40 in the after-hours session at the time of publication, according to Benzinga Pro.
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