United

Candle

Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AVGO stock rallied 51.47% and 57.73% in a year.&nbsp;</a> </li> 
 <li> <span>2</span> <a>CMA authorized Broadcom to acquire VMware for $61 Billion.&nbsp;</a> </li> 
</ul> 
<p>Broadcom Inc. (NASDAQ: AVGO) is cleared by the U.K. market watchdog to acquire VMware for $61 Billion while AVGO stock gained 0.77% in a week. United Kingdom’s Competition and Markets Authority (CMA) approved the United States hardware company Broadcom to acquire desktop virtualization software provider VMware. The deal was under crosshair for various reasons.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-broadcom-inc-avgo-stock-financial-analysis-strong"><strong>Broadcom Inc. (AVGO) Stock – Financial Analysis</strong></h2> 
<p>CMA officials confirmed the deal on August 21, 2023, and it is expected to be completed by October 30, 2023. VMware’s tools have been used by businesses to boost their computing power for more than two decades. The deal would empower Broadcom to take on the AI market and leverage the buzz.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/08/05/broadcom-avgo-stock-price-dropped-down-near-this-weekend/" target="_blank" rel="noopener noreferrer nofollow">Broadcom Inc. (NASDAQ: AVGO)</a> sales in Q1 2023 were $8.73 Billion, and the sales growth fell by 2.04%. Net income growth in Q4 2022 was 12.35% but fell in Q1 2023 to negative 7.76%. Total cash at the end of the most recent quarter (MRQ) is $11.55 Billion, while total debt is $39.43 Billion.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-broadcom-inc-nasdaq-avgo-technical-analysis-strong"><strong>Broadcom Inc. (NASDAQ: AVGO) – Technical Analysis</strong></h2> 
<p>At press time, AVGO stock is trading at $855.79, dropping 1.08%; previous close and open were at $865.14 and $873.41, respectively. The 52-week range is from $415.07 to $923.18, suggesting the deal could cross the highs. With an average volume of 2.48 Million shares, the market cap is $353.172 Billion.&nbsp;</p> 
<p>The trailing twelve-month (TTM) price-to-earnings (P/E) ratio is $26.84, suggesting a fairly valued stock price. At the same time, the (TTM) earnings per share (EPS) is $31.88, showcasing financial strength. Analysts placed a price target at $804.05 with a 6.0% downside and provided a 2.76 rating for moderate buy.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/ocpVpYWarWV2b9AiKl8-OBrCCNtRt7KGPLI_1B_NOY5_85nEwrJI-G-rtvyjEGQuUFN5X25NKqpvX6yMII_FJ1eWTvtALVlhEoWRAWKiDqcysltzuKilO9vU_vcXKFHTWCqGYaFPcq6j_QN19pndVA" alt="Will Broadcom Inc. (NASDAQ: AVGO) Stock Cross $1000.00 Mark?"> 
  <figcaption class="wp-element-caption"> <strong>Analysts Chart; NASDAQ: AVGO; MarketBeat</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>Broadcom reported previous earnings on June 1, 2023, where the reported revenue of $8.733 Billion surpassed the expected value of $8.703 Billion by 0.35%. The reported earnings of $10.32 per share also beat the estimated value of $10.119 per share by 1.98%. These positive earnings fueled AVGO’s share price to gain 3.96%.&nbsp;</p> 
<p>Compared to the previous quarter, the revenue gained 7.77%, and EPS jumped by 13.78%. The subsequent earnings will be released on August 31, 2023, where revenue is supposed to be $8.851 Billion, while earnings are around $10.433 per share. The (TTM) revenue comes at $35.04 Billion, and the year-over-year (YoY) quarterly revenue growth is 7.80%.&nbsp;</p> 
<p>Operating expenses fell by 7.13% to $2.54 Billion, while operating margin (TTM) is 45.31%. AVGO stock fell 5.38% in a week but gained 0.77% weekly, 25.59% in three months, 51.47% YTD, and 57.73% in a year.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-broadcom-inc-avgo-stock-candle-exploration-strong"><strong>Broadcom Inc. (AVGO Stock) – Candle Exploration</strong></h2> 
<p>AVGO stock has been consolidating in a range since January 2022, and the recent AI boom caused the stock price to break out of range, forming new highs. The recent drop can be attributed to difficulties arising from the VMware deal. The uptrend will remain intact if the price stays above immediate support at $755.05.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/Gldlf6TICFZliMTb8bWgPlmudRCDFIP-eBdG-YytRA9tYDwEG-yc_3OKDTGzIRn9mtY6uPBuVXkqbqJOay5VmWxGBeIQIFm-RuNXxMNimW5KqfmwInKx0krDlqAOrDgj3czzYx5kkrAe8yd3J21iIQ" alt="Will Broadcom Inc. (NASDAQ: AVGO) Stock Cross $1000.00 Mark?"> 
  <figcaption class="wp-element-caption"> <strong>Candle Chart; NASDAQ: AVGO; </strong><a href="https://www.tradingview.com/chart/Z6vc2GHY/?symbol=NASDAQ%3ANVDA" target="_blank" rel="noopener noreferrer nofollow"><strong>TradingView</strong></a> 
  </figcaption> 
 </figure> 
</div> 
<p>Ascending 200EMA and 50EMA with a positive crossover in RSI at 48.49 hints towards a price jump. But to gain strong momentum and cross the $1000.00 mark, the price should beat the 52-week high and sustain. It has to be strong enough to break and sustain above $1000.00.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer:</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with stocks with a financial loss risk.</p>

Will Broadcom Inc. (NASDAQ: AVGO) Stock Cross $1000.00 Mark?

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