Broadcom's Data Center Strength Should Offset Any iPhone Weakness; Raising FVE to $255
We are raising our fair value estimate for narrow-moat Broadcom by about 12%, to $255 per share from $227, after the company announced fiscal first-quarter revenue toward the high end of its previously forecast range and, just as important, provided investors with a solid fiscal second-quarter forecast that was above our prior expectations despite "greater than seasonal" weakness in wireless associated with a reported slowdown in Apple iPhone X production. We’re impressed by Broadcom’s recent gr...
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