Yield

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Since last month, AVGO stock price has been showing a downward price movement.</a> </li> 
 <li> <span>2</span> <a>AVGO stock dropped over 2% and 1% in its weekly and monthly price performance, respectively.</a> </li> 
</ul> 
<p>Broadcom (AVGO) stock price slides from its 20 and 50-day moving average in a month. Notably, after the recent Q3 2023 report, the AVGO stock price experienced the most activity by the active bears. They dragged the stock price near its 100-day moving average. As per recent price analysis, the AVGO stock price is stuck in between its 20, 50, and 100-day moving averages.</p> 
<h2 class="wp-block-heading" id="strong-avgo-stock-price-downside-ride-strong"><strong>AVGO Stock Price Downside Ride</strong></h2> 
<p>In a month, AVGO stock lost almost $22.00, whereas last week it lost over $13.00. In one week, the stock kept its performance between $854.12 and $796.40. However, near the weekend, bulls tried to pull up the stock price, which let its price close at $829.08.</p> 
<p>Due to recent bearish market performance, the RSI of the stock also reached near the oversold zone. Which later changed its way to the upside with bullish market support.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793-1024x464.png" alt="" class="wp-image-171117" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-793.png 1281w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: AVGO/USD by <a href="https://www.tradingview.com/x/bTjCwvBK/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>At press time, the pre-market price of AVGO <a href="https://www.thecoinrepublic.com/2023/09/21/bby-stock-price-continuous-its-bearish-trend-below-20-day-ema/">stock </a>showed a slight drop from its recent closing. However, this doesn’t support its upcoming performance. Meanwhile, as bulls have shown their market dominance in recent trading sessions, this kind of price fluctuation can be expected on Monday morning.</p> 
<p>In the past 3 months, analysts have given Broadcom a ‘buy’ rating. Whereas, the analysts have set their 1-year price target at $979.60, up over 18% from the recent closing price of AVGO stock. Their maximum estimate is $1050.00, while their minimum estimate is $900.00.</p> 
<h2 class="wp-block-heading" id="strong-q3-2023-report-highlights-of-broadcom-strong"><strong>Q3 2023 Report Highlights of Broadcom</strong></h2> 
<p>Broadcom Inc. (NASDAQ: AVGO), a <a href="https://www.thecoinrepublic.com/2023/08/05/5-us-semiconductors-stocks-that-could-eke-out-big-profits/" target="_blank" rel="noreferrer noopener">semiconductor </a>manufacturing company, has a market cap of nearly $342.19 Billion. AVGO’s price-to-sales ratio is 9.74, while it has an Enterprise Value to EBITDA ratio of 18.14. AVGO dividends are paid every quarter, its last dividend per share was $4.60. As of now, its Dividend Yield (TTM)% is 2.16%.</p> 
<p>Late in August 2023, Broadcom released its Q3 2023 result, which states its net income is $3.30 Billion. Its Earnings Per Share (EPS) are $10.54, whereas the estimation was $10.43, which accounts for a 1.03% surprise. Its revenue for the same period amounts to $8.88 Billion despite the estimated figure of $8.85 Billion.</p> 
<p>For the upcoming Q4 2023, the estimated EPS is $10.96, and revenue is expected to reach $9.28 Billion. In 2022, the revenue of the company reached $33.20 Billion. Out of which, $25.82 Billion came from its highest performing source at the moment, Semiconductor Solutions. Notably, the greatest contribution to the revenue figure was made by China (including Hong Kong).</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 or stocks comes with a risk of financial loss.</p>

Will The AVGO Stock Price Rebound After A Recent Drop?

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