Why Broadcom Stock Turned Tail Today
After four straight days of steadily rising stock prices, shares of semiconductor manufacturer Broadcom (NASDAQ: AVGO) reversed course and declined Friday afternoon, falling 5.4% through 1:45 p.m. ET despite "beating earnings" last night.
Heading into its fiscal third quarter of 2023, analysts had forecast Broadcom would earn $10.42 per share on sales of $8.86 billion. Broadcom edged out the sales forecast with revenue of $8.88 billion and beat soundly on earnings, reporting a per-share profit of $10.54.
So what's not to like about that? Well, let's take a look.
Source Fool.com
Broadcom Ltd. Stock
€1,214.4
-0.200%
With 41 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 1377 € there is a slightly positive potential of 13.39% for Broadcom Ltd. compared to the current price of 1214.4 €.
