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Berger: This stock is outperforming
Semiconductor company, Broadcom posted stronger than expected fourth-quarter revenue and Serge Berger is looking to take advantage of the company's relative strength.
Companies involved in semiconductor production have been stronger performers recently, with Broadcom leading the pack. Last Thursday the company reported fourth-quarter revenue of $2.06 billion, beating analysts’ expectations of $1.9 billion; signaling the company’s ability to adapt to increased competition and decreased growth in developed countries.
Revenue was down 0.8 percent from one year ago; however, the numbers were hopeful given the disappointing sales figures from smartphone retailers like Apple and Samsung. Half of Broadcom’s revenue is driven by mobile.
Serge is looking to buy the stock at USD 30.50 with a stop placed at USD 29.50, and a target of USD 33.00
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