What's Going On With Broadcom (AVGO) Shares
Portfolio Pulse from Henry Khederian
Broadcom Inc (NASDAQ:AVGO) shares are trading lower by 3.5% amid weakness in semiconductor stocks, potentially due to a drop in Super Micro Computer's shares following its earnings announcement. Super Micro Computer reported Q2 earnings of $3.51 per share, surpassing estimates, and sales of $2.19 billion, also beating estimates. However, the company's projected Q1 adjusted EPS and revenue estimates are lower than expected.
August 09, 2023 | 5:05 pm
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Broadcom's shares are trading lower, potentially due to Super Micro Computer's earnings announcement and lower than expected Q1 projections.
Broadcom's shares are trading lower, which could be due to the overall weakness in the semiconductor sector. This weakness may be attributed to Super Micro Computer's earnings announcement and its lower than expected Q1 projections, which could have led to a negative sentiment in the sector.
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