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Broadcom Inc. (AVGO) Laps the Stock Market: Here's Why
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In the latest close session, Broadcom Inc. (AVGO - Free Report) was up +2.77% at $351.81. This change outpaced the S&P 500's 0.28% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.27%.
Prior to today's trading, shares of the chipmaker had lost 3.6% was narrower than the Computer and Technology sector's loss of 4.89% and lagged the S&P 500's loss of 0.2%.
The investment community will be paying close attention to the earnings performance of Broadcom Inc. in its upcoming release. The company's upcoming EPS is projected at $3.82, signifying a 95.90% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $34.87 billion, indicating a 93.55% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.79 per share and revenue of $105.97 billion, indicating changes of +72.87% and +65.88%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Broadcom Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.01% higher. Broadcom Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Broadcom Inc. is currently trading at a Forward P/E ratio of 29.03. This valuation marks a discount compared to its industry average Forward P/E of 33.13.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Broadcom Inc. (AVGO) Laps the Stock Market: Here's Why
In the latest close session, Broadcom Inc. (AVGO - Free Report) was up +2.77% at $351.81. This change outpaced the S&P 500's 0.28% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.27%.
Prior to today's trading, shares of the chipmaker had lost 3.6% was narrower than the Computer and Technology sector's loss of 4.89% and lagged the S&P 500's loss of 0.2%.
The investment community will be paying close attention to the earnings performance of Broadcom Inc. in its upcoming release. The company's upcoming EPS is projected at $3.82, signifying a 95.90% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $34.87 billion, indicating a 93.55% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.79 per share and revenue of $105.97 billion, indicating changes of +72.87% and +65.88%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Broadcom Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.01% higher. Broadcom Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Broadcom Inc. is currently trading at a Forward P/E ratio of 29.03. This valuation marks a discount compared to its industry average Forward P/E of 33.13.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.