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. Aktie

Broadcom Ltd. muss heute leichte Verluste wegstecken. Die Aktie notiert im Vergleich zu gestern um -0,32 % tiefer.
Klare Kaufstimmung: Broadcom Ltd. hat 69 Buy-Einschätzungen und keine Sell-Einschätzung.
Ein Kursziel von 1382 € für Broadcom Ltd. signalisiert eine deutliche Steigerung im Vergleich zum aktuellen Kurs von 149.84 €.

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