Tame Quarter from Broadcom Doesn't Dispel Our Positive Outlook; Shares Attractive at Current Levels
Broadcom reported in line fiscal second-quarter results while providing a third-quarter outlook consistent with its preliminary revenue guidance from April 30. The firm’s wireless segment was negatively impacted by a sharp drop in Apple iPhone channel shipments, modestly offset by increased product shipments to Samsung for its latest Galaxy S9 smartphone. In contrast, Broadcom’s other three business segments exhibited solid sequential growth, illustrating the breadth of the company’s offerings. ...Broadcom, via its subsidiaries, is a designer, developer and supplier of a range of semiconductor and infrastructure software solutions. The company develops semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products. The company provides products that are used in end products such as enterprise and data center networking, home connectivity, set-top boxes, broadband access, telecommunication equipment, smartphones and base stations, data center servers and storage systems, and factory automation. The company has three segments: semiconductor solutions, infrastructure software and intellectual property licensing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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