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Today we are going to talk about Broadcom.
The ticker symbol is AVGO.
In February 2016, Avago completed its purchase of Broadcom for $37 billion dollars. The deal was announced in May 2015.
Avago kept the Broadcom name.
This will be the 1st full quarterly report since the merger with Avago.
Revenue is expected to rise 116%.
Earnings are expected to rise 12%.
Apple chip suppliers saw their stock price go up Monday May 23rd due to reports that the iPhone 7 orders are tracking ahead of expectations.
The Street had predicted 65 million iPhone 7s.
Apple (AAPL) ordered its suppliers to produce 72 to 78 million iPhone 7s.
Broadcom gets 15% of its sales from Apple.
Samsung contributes in the high single digits of Broadcom’s sales.
Other customers include:
* Cisco Systems
On Tuesday May 24th Broadcom introduced the industry’s 1st 60 Gigahertz wireless mesh chip solution.
This will help people who consume data on the go.
And isn’t that basically everyone?!?
Broadcom reports earnings Thursday June 2nd after the bell.
It’s beaten earnings estimates the past 11 quarters.
With the synergies & cost-savings of the the merger
And its huge client base needing it for enterprise connectivity, we’re predicting another earnings beat.
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