Broadcom (AVGO) Stock Slides 3% After Earnings: Is the Dip Worth Buying?
TLDR
- AVGO fell nearly 3% post-earnings and is down roughly 15% over the past month, trading around $358
- Q3 revenue hit a record $29.59 billion, up 85% year over year, with AI semiconductor revenue surging 221% to $16.7 billion
- Q4 revenue guidance of $34.8 billion came in slightly below Wall Street estimates of around $35 billion
- Broadcom raised its fiscal 2027 AI semiconductor revenue outlook to $115 billion, with a 2028 target of $230 billion
- Analysts are split, with price targets ranging from $350 (DA Davidson, Neutral) to $600 (Cantor Fitzgerald, Overweight)
Broadcom reported one of its strongest quarters on record Thursday, but the market wasn’t impressed. AVGO stock fell nearly 3% after earnings and is now down about 15% over the past month, trading around $358 a share. That puts it more than 25% below its all-time high set in June.
Q3 revenue came in at $29.59 billion, up 85% year over year and ahead of Wall Street’s $29.4 billion estimate. Adjusted earnings per share hit $3.32, beating the $3.24 consensus. Free cash flow surged 95% to $13.7 billion.
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