Broadcom slips after issuing fiscal fourth-quarter revenue guidance. Why pros say it’s a good time to buy

by | Sep 1, 2023 | Financial

Market Movers rounded up the latest reactions on Broadcom from investors and analysts. The pros discussed the semiconductor company a day after it announced quarterly results that beat estimates but also reported fiscal fourth-quarter revenue guidance that was roughly in line with expectations. Nevertheless, UBS is maintaining its buy rating and $925 price target on Broadcom’s stock, saying the chipmaker is a “prime beneficiary” of the artificial intelligence fight. The chipmaker ended the trading day down about 5.5%. The stock is currently held in Jim Cramer’s Charitable Trust portfolio.

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