Broadcom Faces Earnings Test After $280 Billion 4-Day Rally
Updated
Updated · Bloomberg · Jun 3
Broadcom Faces Earnings Test After $280 Billion 4-Day Rally
3 articles · Updated · Bloomberg · Jun 3
Summary
$280 billion in market value has been added to Broadcom in four sessions, putting its after-the-bell earnings report at the center of whether the surge can hold.
Investors are weighing whether the stock has run too far, too fast, with portfolio strategist Tim Ghriskey warning that profit-taking is possible after such a huge move.
That risk is heightened by fears of a repeat of the sharp selloff seen earlier this year, even as Ghriskey said the concern is about volatility rather than Broadcom's underlying business.