How Benzinga’s view on $AVGO changed

We talked about the AI fears yesterday. They hammered chip stocks, but the Broadcom CEO, he's finger wagon. Not so fast. It is not cracking here. Broadcom, ticker AVGO, their stock edged lower in Tuesday in their pre-market trading, falling 4.77% in the previous session.

Risk appetite remained weak with NASDAQ SNP both down. Monday's decline came as leaders at major artificial intelligence companies called for a slower pace of advanced AI development over safety concerns.

The debate raised fears that slower AI development could eventually weigh on demand for chips and data center hardware.

But now, like we really love Marll or better example is Broadcom. It's bigger company. We recommended it on national television into earnings. They raise guidance 25% stock goes down six.

Okay, that's not great. Doesn't feel good. But we have a 15 multiple on Broadcom on their 28 fiscal which ends in October and that gets you to 450. So like you have earnings support even if everybody hates it and hedge funds are selling it or dumping or whatever shorting it, you have earnings support.