We recently published Jim Cramer Didn't Hold Back On **** eX's IPO & Discussed These 12 Stocks. Broadcom Inc. (NASDAQ:AVGO) is one of the stocks discussed by Jim Cramer.
AI chip company Broadcom Inc. (NASDAQ:AVGO)'s shares have experienced a lot of volatility recently. They are down by 12.9% over the past month, with the turmoil having started after it reported its second-quarter earnings. The results saw Broadcom Inc. (NASDAQ:AVGO) post $22.19 billion in revenue, which missed **** yst estimates of $22.27 billion. Additionally, the firm did not raise its revenue guidance for custom AI chips. On June 4th, Benchmark discussed Broadcom Inc. (NASDAQ:AVGO)'s shares as it raised the share price target to $545 from $485 and kept a Buy rating on the stock. The coverage followed the earnings report, with Benchmark blaming the market for comparing the firm to an overelevated AI semiconductor sector as opposed to published estimates. On the same day, DA Davidson also increased its share price target for Broadcom Inc. (NASDAQ:AVGO). It **** ped the target to $400 from $375 and kept a Neutral rating on the shares. Here's what Cramer tweeted about the firm on the same day:
"Rough day, rough evening. Batten down the hatches.. Broadcom and Crowdstrike are two very popular stocks and they are getting hammered. We are writing about them as i type this–for club members only
"CNBC Investing Club members we have terrific notes out on Broadcom and CrowdStrike. I think people thought they were going to get a Dell or a Marvell. They got a Broadcom and a CrowdStrike
"I'm not going to tell you the selling isn't exaggerated tonight in Broadcom and CrowdStrike. I will say that they were parabolic and the parabola stocks will be hurt as all of these deals get priced. Please watch the top of Mad Money tonight for more