Broadcom (NASDAQ:AVGO) Stock price trend forecast and trading range:
The risk of short-term decline in the stock price is high, and it is not recommended to hold a position.
Updated to: 2023.1.10
(Note: The upper red line in the picture is the resistance, and the lower red line is the support)
Analysis from stock chart
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Short-term trend: neutral
Sell high and buy low of range : none
Support: $540 resistance: $600 Stop Loss Price: $540 price target: $600 Buy the position again: stop fall
Mid-term trend: neutral
High sell low buy range: none
Support: $540 resistance: $600 Stop Loss price: $540 price target: $600 Buy the position again: stop fall
Long-term trend: bullish
High sell low buy of range: none
Support : $540 resistance: $600 Stop Loss price: $540 price target : $600 Buy the position again: stop fall
From Analysis from financial statements:
Revenue for the fourth quarter of fiscal 2022 was $8.93 billion, market estimate was $8.90 billion, YoY+20.56%, net profit was $3.311 billion, YoY+72.99%, EPS was $7.8104, YoY+75.96%. The market is worried about the demand for consumer electronic products, and although the stock price performance is better than that of companies in the same industry, the medium-term and long-term pressure is greater until the demand recovers. It is recommended to trade using technical analysis and only keep the right side trade.
Historical Forecast Log:
2023.1.3 From the stock price chart analysis, its support is $540,its resistance is $580.there is a well-established trading range between $548 and $559,the stop-loss price is $540,the short-term trading price target is $559,If the stock price bounces above $546, you can buy again,The trading strategy can be to sell high and buy low or to hold the shares until the share price reaches above the target price.if the stock price moves into below $540,next its resistance is $500 and its price maybe move into between $480 and $520.The probability of a medium-term and long-term decline in stock prices is high.
2022.12.09 From the analysis of stock technical graphics, the recent stock price continues to rebound, and the possibility of choosing the direction in the near future is high, it is recommended that short-term trading back to $520 high sell low or hold, stop loss price of $520. Medium-term traders can wait patiently for the right trading opportunity and enter the market after the stock price breaks through the previous high or falls back to the 60-day moving average.
2021.9.3 From the technical chart, the stock price is in an uptrend, it is recommended to hold above the 60-day moving average for a long time, if it falls below the 60-day moving average, pay attention to the risk of stock price falling. From a fundamental point of view, there is a large premium in the stock price, pay attention to investment risks.
Key Quote Data:
52 Week Range: 411.63-629.41
P/E Ratio(TTM): 21.08
EPS(TTM): $26.53
Market Cap: $233.65 B
Beta: 1.10
Number of employees: 20000 historical data 21000
Summary of recent financial statements
2022.12.08 Revenue for the fourth quarter of fiscal 2022 was US$8.93 billion, market estimate was US$8.90 billion, YoY+20.56%, net profit was US$3.311 billion, YoY+72.99%, EPS was US$7.8104, and YoY+75.96%. R&D expenses were $1.197 billion, YoY-0.25%. Quarterly dividend of $4.60 per share. Adjusted earnings per share for the fourth quarter were $10.45, versus market estimates of $10.25, compared to $7.81 in the year-ago quarter. Semiconductor solutions revenue for the fourth quarter was $7.09 billion, compared with a market estimate of $7.01 billion, and revenue for the first quarter is expected to be approximately $8.90 billion, compared with a market estimate of $8.80 billion. (Note: The default is GAAP, Non-GAAP will be explained separately)
Cash from operations of $4,583 million for the fourth quarter, less capital expenditures of $122 million, resulted in $4,461 million of free cash flow, or 50 percent of revenue.
Quarterly common stock dividend increased by 12 percent to $4.60 from the prior quarter.
First Quarter Fiscal Year 2023 Business Outlook
Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2023, ending January 29, 2023, is expected to be as follows:First quarter revenue guidance of approximately $8.9 billion;First quarter Adjusted EBITDA guidance of approximately 63 percent of projected revenue.
BROADCOM INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
About Broadcom Inc.(NASDAQ:AVGO)
Broadcom Inc. (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom’s category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://www.broadcom.com.