Breaking News
0

Broadcom up big with near term gains likely

By Steve MillerStock MarketsMar 15, 2019 01:56PM ET
www.investing.com/analysis/broadcom-up-big-with-near-term-gains-likely-200398252
Broadcom up big with near term gains likely
By Steve Miller   |  Mar 15, 2019 01:56PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Summary:

  • Broadcom (NASDAQ:AVGO) rose 10% on Friday morning, after the company posted mixed earnings and revenue guidance that beat Wall Street expectations.
  • As the stock is still early in its current rising minor cycle, we believe more gains are likely before corrective forces kick in later in the spring.


Broadcom (AVGO) Stock Weekly Chart

The company reported earnings per share of $5.55 and revenue of $5.79 billion, compared to analyst estimates of $5.23 and $5.83 billion. Management forecast 2019 revenue at $24.5 billion, above the consensus of $24.4 billion.

CEO Hock Tan explained that, “We were pleased that our broadband business has started to recover and that the semiconductor segment was actually up year-over-year in Q1, if you exclude the expected decline in wireless.”

In analyzing the market cycles for AVGO, we can see that the stock has begun a new rising phase for its current minor cycle. The stock has recovered to a recent high, with likely more gains ahead as it is still early in this cycle. Our target is around $305 before a correction later in the spring.

For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel.

Broadcom up big with near term gains likely
 
Broadcom up big with near term gains likely

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email