According to Oppenheimer, the slowdown in enterprise storage and Apple production could have an impact on Broadcom's outlook.

A slowdown in cloud spending and business storage, as well as probable production cuts by key client Apple AAPL, may make Broadcom's AVGO projection for the upcoming fiscal year less optimistic, analysts at Oppenheimer wrote in a note on Friday.

Amid tight COVID-19 lockdowns in China, the iPhone maker may fall short of shipment forecasts by much to 20 million handsets in the fourth quarter.

On a late-Thursday earnings call, Marvell MRVL Chief Executive Matt Murphy stated that Chinese customers in its business networking end market "began to get wary" as the fiscal third quarter went on. Murphy stated that the company anticipates consecutive revenue declines from that segment in the fourth quarter.