Broadcom Stock: Upbeat Report Not Enough To Pacify Bears

Skittish investors sold off Broadcom (AVGO) stock on Friday even though the fabless chipmaker and infrastructure software provider comfortably beat estimates with its fiscal fourth-quarter results and guidance. Broadcom late Thursday said it earned an adjusted $1.95 a share on sales of $18.02 billion in the quarter ended Nov. 2. On a year-over-year basis, Broadcom earnings increased 37% as sales…