Broadcom just reported solid earnings, and the stock is a member of the BofA Securities US 1 list of Top stock picks.
Broadcom Inc. (NASDAQ:AVGO) has an extensive semiconductor product portfolio that addresses applications within the wired infrastructure, wireless communications, enterprise storage and industrial end markets.
Applications for Broadcom’s products in its end markets include data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, servers and storage, factory automation, power generation and alternative energy systems and displays.
The dividend yield is 2.90%. We have a price objective of 600 for Broadcom stock, while the consensus price target is at 530.62.
There is no resistance and the support is deep. The Key LTN technical indicator is Very Bullish in here
Have a prosperous day, Keep the Faith!