AVGO Stock Summary and Trading Ideas (Broadcom | NASDAQ:AVGO)

Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue. It sells 17 core semiconductor product lines across wireless, networking, broadband, storage, and industrial markets. It is primarily a fabless designer but holds some manufacturing in-house, like for its best-of-breed FBAR filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments.Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as Brocade, CA Technologies, and Symantec in software.

Broadcom trades on the NASDAQ stock market under the symbol AVGO.

As of December 20, 2024, AVGO stock price climbed to $220.79 with 88,761,426 million shares trading.

AVGO has a beta of 3.29, meaning it tends to be more sensitive to market movements. AVGO has a correlation of 0.50 to the broad based SPY ETF.

AVGO has a market cap of $1.03 trillion. This is considered a Mega Cap stock.

Last quarter Broadcom reported $14 billion in Revenue and $1.42 earnings per share. This fell short of revenue expectation by $-36 million and exceeded earnings estimates by $.04.

In the last 3 years, AVGO traded as high as $251.88 and as low as $41.51.

The top ETF exchange traded funds that AVGO belongs to (by Net Assets): VTI, VOO, QQQ, SPY, IVV.

AVGO has outperformed the market in the last year with a price return of +100.3% while the SPY ETF gained +27.8%. AVGO has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +29.0% and +23.0%, respectively, while the SPY returned +4.4% and -2.4%, respectively.

AVGO support price is $210.19 and resistance is $226.45 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AVGO shares will trade within this expected range on the day.