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.
Image source: Getty Images.
Source Fool.com
Broadcom Ltd. Stock
€362.60
0.210%
The stock is an absolute favorite of our community with 82 Buy predictions and no Sell predictions.
As a result the target price of 404 € shows a slightly positive potential of 11.42% compared to the current price of 362.6 € for Broadcom Ltd..
