Shares in Broadcom fell in premarket trading.

Shares in Broadcom dipped more than 2% in premarket trading on Thursday despite topping analysts' expectations for its fiscal third quarter.

"Broadcom is a technology infrastructure powerhouse with unmatched scale and technology capabilities in the industry, securing its leadership positions in a diverse set of end markets," analysts at JPMorgan said, adding that although guidance for the November-ending period was in-line with Wall Street consensus, it was possibly below market expectations. The company (AVGO) sees revenue reaching $34.8 billion in the fiscal fourth quarter, marginally higher than estimates of $34.7 billion.

For analysts at Morgan Stanley, headed by Joseph Moore, Broadcom's results were "impressive," but they highlighted some challenges for the stock, including worries over the company's market share in the tensor processing unit sector.

Analysts at Cantor, led by C.J. Muse, were also impressed by the report, noting that while they understand investors' concerns over the current macroeconomic environment and the potential for rising debt to hit spending on artificial intelligence, they also see congestion in the semiconductor supply chain hurting growth and thus prolonging the cycle, which would likely lead to accelerated growth in 2028.

-Nora Redmond