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Broadcom Inc. (AVGO) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest close session, Broadcom Inc. (AVGO - Free Report) was down 4.37% at $329.28. This change lagged the S&P 500's 1.09% loss on the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 2.15%.
The stock of chipmaker has fallen by 0.86% in the past month, lagging the Computer and Technology sector's gain of 1.99% and the S&P 500's gain of 2.44%.
Market participants will be closely following the financial results of Broadcom Inc. in its upcoming release. The company is predicted to post an EPS of $3.82, indicating a 95.9% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $34.87 billion, indicating a 93.55% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.79 per share and a revenue of $105.97 billion, indicating changes of +72.87% and +65.88%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Broadcom Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Broadcom Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Broadcom Inc. currently has a Forward P/E ratio of 29.2. For comparison, its industry has an average Forward P/E of 33.12, which means Broadcom Inc. is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Broadcom Inc. (AVGO) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest close session, Broadcom Inc. (AVGO - Free Report) was down 4.37% at $329.28. This change lagged the S&P 500's 1.09% loss on the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 2.15%.
The stock of chipmaker has fallen by 0.86% in the past month, lagging the Computer and Technology sector's gain of 1.99% and the S&P 500's gain of 2.44%.
Market participants will be closely following the financial results of Broadcom Inc. in its upcoming release. The company is predicted to post an EPS of $3.82, indicating a 95.9% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $34.87 billion, indicating a 93.55% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.79 per share and a revenue of $105.97 billion, indicating changes of +72.87% and +65.88%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Broadcom Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Broadcom Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Broadcom Inc. currently has a Forward P/E ratio of 29.2. For comparison, its industry has an average Forward P/E of 33.12, which means Broadcom Inc. is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.