Broadcom (AVGO) Stock Price

Financial Performance

Broadcom has shown a solid financial performance with its last quarter revenue at $14.9B, marking an increase of 6.1% from the previous quarter and a significant rise of 19.5% YoY. The gross profit stood at $10.1B, up by 12.7% QoQ and an impressive jump of 44.9% YoY. Operating income also demonstrated strong growth, up by 35.3% QoQ and a massive surge of 89.1% YoY.

The EBITDA ratio was reported at a healthy level of 0.42 in the last quarter.

Stock Price

The stock is currently trading at $359.87, presenting an uptrend with a monthly gain of about 17.5%, and more than doubling its value over the past year with a YoY increase of around 114%. The RSI value stands at approximately 72 which indicates that the stock might be approaching overbought territory while the stock's robust upward trend is further confirmed by its current price being significantly above its average price over the past year (200-day moving average) which sits at $234.

Alternative Data Signals

In terms of alternative data signals, Broadcom's web traffic shows some decline both MoM (-3%) and YoY (-9%). Job openings have also reduced slightly MoM (-4%) but show a substantial decrease when compared to last year (-26%). However, employee sentiment towards business outlook appears positive with around three-fifths (61%) reporting optimism for future prospects - this figure is on an upward trend both MoM (+1%) and YoY (+10%). Social media followership is growing with Twitter followers increasing by 15% and Facebook followers by 4% over the last quarter.

Conclusion

In conclusion, while there are some mixed signals from alternative data points such as web traffic and job postings, Broadcom's strong financial performance and positive stock price trend indicate a bullish outlook for the stock. However, investors should keep an eye on the high RSI which could signal potential overvaluation.

Note: This AI Stock Analysis is based on data as of September 13. Our members can refresh and get access to an up-to-date AI stock analysis.

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Based on a combination of financial analysis, technical indicators, and insights from alternative data, we predict that the stock price of Broadcom (AVGO), currently trading at $344.9, will... Sign up to access price prediction.