Is Broadcom (AVGO) Stock a Buy Before September Earnings?
TLDR
- Broadcom stock was little changed in Monday premarket, trading around $397.54, after falling more than 5% Friday
- A Bank of America analyst estimates Broadcom’s AI chip-financing vehicle could carry $370 billion in senior debt by mid-2029
- Broadcom has disclosed up to $29 billion in potential exposure under its initial financing arrangement
- Analysts hold a “Moderate Buy” consensus with an average price target of $493.24
- Broadcom is set to report earnings on Sept. 2, with analysts expecting EPS of $3.16 and revenue of $29.44 billion
Broadcom (AVGO) stock was little changed in Monday’s premarket, trading at $397.54, after dropping more than 5% on Friday. Nasdaq futures were up 0.55% and S&P 500 futures gained 0.15%, providing a slightly firmer backdrop.
The stock’s Friday slide came as Wall Street started paying closer attention to the financing structure behind Broadcom’s AI expansion.
Bank of America analyst Tom Curcuruto estimates that Broadcom’s AI chip-financing vehicle could carry as much as $370 billion in senior debt by mid-2029. That debt would sit with the financing vehicle itself, not directly on Broadcom’s balance sheet.
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