Broadcom: A Golden Buying Opportunity (Rating Upgrade)
AVGOBroadcom(AVGO) Seeking Alpha·2024-09-09 16:03
peshkovShares of Broadcom (NASDAQ:AVGO) crashed 10% on Friday after the hardware maker reported better than expected earnings for its third fiscal quarter. Despite a 47% year-over-year increase in revenue in the last quarter, which was driven by a continual boom in the artificial intelligence market, the earnings report fell into a week of weak macro data. Chip stocks had an especially bad week last week as investors panicked over a poor reading of the labor market data. In my opinion, Broadcom is in a  ...