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Avgo Stock

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business2 years ago•2 min saved

Broadcom Successfully Completes $69 Billion VMware Takeover

Wall Street analysts predict that Broadcom's completion of its acquisition of VMware will lead to a rise in AVGO stock. The acquisition is expected to increase Broadcom's software sales and reduce its exposure to the cyclical semiconductor market. Analysts have raised their price targets for AVGO stock and anticipate immediate positive impacts on Broadcom's gross profit margin and earnings per share. The next potential catalyst for AVGO stock could be Broadcom's fiscal fourth-quarter earnings report on December 7.

via Investor's Business Daily|

#avgo-stock #broadcom #business

business2 years ago•2 min saved

Broadcom's Strong Q3 Performance Surpasses Expectations

Chipmaker Broadcom beats Wall Street's expectations for its fiscal third quarter with earnings of $10.54 per share on sales of $8.88 billion, representing an 8% increase in earnings and a 5% increase in sales year-over-year. However, the company's outlook for the current quarter aligns with analyst estimates, causing AVGO stock to slide. Broadcom's CEO attributes the strong performance to demand for next-generation networking technologies and AI clusters within data centers. The company expects its acquisition of VMware to close on October 30. Analysts predict that AI chips will drive Broadcom's growth, with estimates of $4 billion in AI-related sales this year.

via Investor's Business Daily|

#ai-chips #avgo-stock #broadcom