Why Broadcom Stock Ticked Higher on Tuesday

Unlike many other tech stocks, (NASDAQ: AVGO) landed in positive territory on the second trading day of the week. It closed the trading session more than 1% higher, thanks to capital flight from software titles to hardware makers, and to a bullish analyst update.

Tech investors were cycling out of legacy software companies following International Business Machines' release of its preliminary second-quarter results. These indicate that both the company's revenue and net profit, not under generally accepted accounting principles (GAAP), will come in well under analyst consensus estimates.

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Source Fool.com