Broadcom Inc (NASDAQ:AVGO) is scheduled to report its fiscal third-quarter results on Sept. 2.
Recent channel checks indicate that investor concerns around the company’s competitive position at Alphabet Inc (NASDAQ:GOOGL) seem to be "overstated," according to JPMorgan.
• Broadcom stock is taking a breather. Where is AVGO stock headed?
The Broadcom Analyst: Analyst Harlan Sur maintained an Overweight rating and price target of $580.
The Broadcom Thesis: The stock has lagged the broader semiconductor group year to date, having risen only by 7% versus a 69% gain in the index, Sur said in the note.
