Broadcom Inc (NASDAQ: AVGO) stock added $9.01 to its trading prices on the July 4 trading session. It opened trading at $868.62, dipped to $874.92, hit a high of $876.73, and closed trading at $876.44 with an intraday trading volume of 903.83k.
Since last week, AVGO stock price surged more than 6.24%, and its prices surged more than 10.80% in a month. In all types of trading sessions, Broadcom Inc has reflected an upper movement.
According to TradingView’s technical indicators and analysts’ ratings, it is the best time to buy AVGO stock. Broadcom Inc’s annual price target is $895.36, which is 2.16% greater than the current trading price.
In 52 weeks, AVGO stock’s lowest trading price was $415.07, and the highest was $921.78. Broadcom Inc’s market capitalization is $361.694 billion, with an average trading volume of $2.33 billion.
At press time, pre-market prices of AVGO stock reflected a decrease of $6.33 of its trading price, and it is assumed that when the market opens, it might face many significant declines.
Broadcom Inc (NASDAQ: AVGO) Earnings & Revenue
In both Q1 and Q2 2023, Broadcom Inc (NASDAQ: AVGO) reported more revenue than the estimated figures. The estimated revenue for Q1 was $8.90 billion, but the reported revenue was $8.91 billion. Similarly, the estimated revenue for Q2 was $8.70 billion, while the reported revenue was $8.73 Billion.
In Q1 and Q2, the revenue surged over 1.60% and 1.98% more than the estimated figures. The company was estimated to report earnings per share (EPS) of $10.17 in Q1 and $10.12 in Q2 2023. More than 403 million AVGO shares are free-floating, and the remaining 9 million are closely held by the company’s financial backers or the board of directors.
Broadcom Inc’s (NASDAQ: AVGO) revenue-to-profit conversion constitutes 62% of gross profit, 58% of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), 43% of Earnings before interest and taxes (EBIT), and 35% of net income.
Most of the company’s income is generated from the semiconductor solutions and infrastructure software industry. The organization serves users in many nations, including China, the Americas, the United States, Singapore, Europe, and other regions within the Asia-Pacific.
In Q2 2023, the company’s net income was $3.48 billion, with a profit margin of 39.86%. In the financial year 2022, the company’s net income was $11.49 billion, with a profit margin of 34.62%.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/05/avgo-stock-rebounds-gains-9-01-intraday-buyers-intrigued/