Is Broadcom a Buy After Its Latest Earnings Report?

There was good and bad to be found in Broadcom's (NASDAQ: AVGO) second-quarter earnings report. On the one hand, revenue jumped 48% to $22.19 billion. And earnings of $2.44 per share were better than analysts' consensus expectations of $2.40 per share. However, Broadcom projected that artificial intelligence chip sales would reach $16 billion in the third quarter, below analysts' expectations of $17.2 billion. The company also maintained its full-year target of $100 billion in AI chip sales rather than raising it. That sent investors scrambling, and Broadcom stock fell more than 12% in after-hours trading today.Let's take a closer look at the report and what red flags the Street is seeing as Broadcom sells off following its Q2 earnings report.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool