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.
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