Million

Yield

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AVGO stock price accumulated bears that dropped its share price.</a> </li> 
 <li> <span>2</span> <a>Recently, Broadcom is planning for drastic job cuts at VMware after the acquisition.</a> </li> 
</ul> 
<p>AVGO stock price slid near this weekend with a 1.96% price drop showing bears’ dominance. The price of AVGO stock dropped down from its 20-day moving average. With bears’ dominance, the RSI of AVGO stock started sliding down. Meanwhile, over a volume of 2 Million was noted on August 7, 2023, Friday’s trading session. It must be noted that AVGO share price had a bullish start this week which turned bearish near the weekend.</p> 
<h2 class="wp-block-heading" id="strong-avgo-stock-price-analysis-strong"><strong>AVGO Stock Price Analysis</strong></h2> 
<p>On Friday, AVGO stock price opened at $884.98, lost nearly $3, and then closed at $881.65 with 0.38% of price drop. The day range of AVGO stock was between $893.62 to $873.37. Notably, last month AVGO share price noted a 1.64% price gain while the year-to-date (YTD) price also showed a bullish surge with over 50% price rise.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/34TYEEPUjlSbORdfjDo7TJfLCKt5ZFQovFH80VUiTA4-d0oTCsZTeXr7gU-wWGUVJGy16q29SCIUP1Q9rAy-rAY5PMkxPfPbjz0cBWFzsRzyk0RyK7IDagh03xDJxgwgSubktuvHuUlVAfqT8332sw" alt="Broadcom (AVGO) Stock Price Dropped Down Near This Weekend"> 
  <figcaption class="wp-element-caption"> <strong>Source: AVGO/USD by </strong><a href="https://www.tradingview.com/x/I1KXYHKa/" rel="noopener noreferrer nofollow"><strong>TradingView</strong></a> 
  </figcaption> 
 </figure> 
</div> 
<p>The recent bearish trend points towards the bear’s increased activity which further shows investors lose confidence. However, the all-time price analysis shows a good performance with an all-time bullish performance.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized"> 
  <img decoding="async" loading="lazy" src="https://lh5.googleusercontent.com/5JV7dj2sb9PZXiB8zlulyJCxeVc6U_Fg7j6b5swrcRFC33_NRrbYfgXJN4BX2mIOKEKn0TNqepMCbqP98aNu2ob7twIh7RjofWTyHnXM2z9i4d6Onofip3wvgLePUeKCH9qnFIA05PIMs1sFRcsuZg" alt="Broadcom (AVGO) Stock Price Dropped Down Near This Weekend" width="1168" height="522"> 
  <figcaption class="wp-element-caption"> <strong>Source: Price Target of AVGO Stock by TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>The one-year price target set by analysts is at $905.00, up by over 2% from the recent closing price of <a href="https://www.thecoinrepublic.com/2023/08/04/lng-stock-price-noted-over-2-million-volume-on-q2-earnings-day/" target="_blank" rel="noopener noreferrer nofollow">stock</a>. Meanwhile, the maximum price estimate by analysts is at $1050.00 whereas the minimum estimate is at $800.00.</p> 
<h3 class="wp-block-heading" id="strong-the-fundamentals-of-broadcom-strong"><strong>The Fundamentals of Broadcom</strong></h3> 
<p>Broadcom Inc. (NASDAQ: AVGO), a semiconductor manufacturing company, has a market cap of nearly $363 Billion. According to its recent Q2 2023 quarter report, released earlier in June 2023, its net income is $3.84 Billion. AVGO price-to-sales ratio is 10.78 while the company has an Enterprise Value to EBITDA ratio of 19.33.</p> 
<p>AVGO dividends are paid quarterly while the last dividend per share was $4.60 and as of today, the Dividend Yield (TTM)% is 2.02%. AVGO earnings per share (EPS) is $10.32 whereas the estimate was at $10.12 which accounts for a 1.98% surprise. Its revenue for the same period amounts to $8.73 Billion despite the estimated figure of $8.70 Billion.</p> 
<p>For the upcoming Q3 2023, the estimated EPS is $10.43, while the revenue is expected to reach $8.85 Billion.</p> 
<p>Broadcom Inc. revenue for 2022 amounted to $33.20 Billion. Out of which, nearly $25.82 Billion came from its highest-performing source at the moment, “semiconductor solutions”.</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 ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Broadcom (AVGO) Stock Price Dropped Down Near This Weekend

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Thecoinrepublic.com

Alte articole publicate pe 5 aug. 2023

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