Broadcom crushes results

Posted Jul 23rd 2008 2:00PM by Todd Harrison
Filed under: Earnings Reports, Broadcom Corp'A' (BRCM), Technology

Minyanville Professor Sean Udall dares to share the kind of keen insight and actionable information you won't find in any prospectus. For more original thought, visit www.minyanville.com.

Broadcom (NASDAQ: BRCM) crushes and I still think it's the best chip name on the planet. But as stated yesterday, I was worried about muted guidance and BRCM talked margins down, while guiding rev's higher.

This morning the stock surged off its after-hours low last night and I'm not sure how it pushed down into the $24's. Frankly I wish I had been in front of my trading station at that time, even though it has drifted lower as the day has progressed.

Bottom line, post earnings I'm back to being a buyer on weakness and feel anything in the $25's is an excellent entry, long term and/or even shorter term.

Disclosure: Position in BRCM.

Tags: brcm, broadcom, earnings