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Broadcom (AVGO) stock trimmed losses after tumbling as much as 4% in after-hours trading on Wednesday.

The AI chip and networking giant saw revenue growth amid booming AI demand, but the company's results were not enough to send the stock higher. Shares sank immediately after the results, then trimmed losses.

(AVGO )

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343.10 -24.14 (-6.57%)

As of 10:10:44 AM EDT. Market Open.

"I can understand the selling pressure," Cody Acree, StoneX financial equity research analyst, told Yahoo Finance. The analyst, who has a Buy rating on the stock, noted the chipmaker's fiscal Q3 revenue and earnings beat was "not enough to keep investors happy."

"The magnitude is not quite enough from a top and bottom line standpoint on the beat and raise when you have a company that is this levered to AI," said Acree.

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