Posted 2/20/2024, 10:45:17 PM
Broadcom Stock Underperforms as Q4 Earnings Approach, Though Full-Year Growth Expected
- Broadcom Inc. (AVGO) stock fell 1.52% on Tuesday, underperforming the S&P 500 and tech-heavy Nasdaq
- AVGO shares have lagged the market over the past month, up just 2.05% vs the S&P 500's 3.56% gain
- AVGO is expected to report a slight 0.1% drop in Q4 2023 EPS but a 28.78% revenue increase when it releases earnings on March 7, 2024
- For full-year fiscal 2023, analysts forecast double-digit EPS growth of 11.01% and revenue growth of 39.8% for AVGO
- AVGO holds a Zacks Rank #4 (Sell) right now based on recent negative estimate revisions for near-term performance