current qtr solid beat on eps. revenue also beat but by 10 million only.
nxt qtr guidance i think is conservative. mid point 1.8. brcm can beat by 10 to 50 million.
stock at 40 itself very cheap. but let's see charts.
even at 40 before this earnings shorties came in full force.
so i guess 39.5 to 41 is shorties play ground.
that leaves 38 to 39.5 run. considering brcm is trading lousy 39 to 39.5 is also ruled out.
so 38 to 39 is when longs will try to bail out. that means low 37 is not a buy point.
buy point will be panic low 34. i think 35 will hold on charts as stocks become really cheap.
so we have got 34 to 35 easy tomorrow. if you are long cut your position at 39 i guess.
this is a zombie stock for next 3 months from trading anywhere from 30 (worst) to 39 (best). narrowing it will be 34 to 37.
i am still bullish and the 5% reduced guidance is nothing as it is a nearly 2 billion per qtr company and still growing and many new products on pipe line and leader in connectivity. this 5% also takes japan into account apart from slowing of nokia/samsung and not any market share loss. brcm addressing this with new customer traction. dual core app processor's, like tegra 2, is BCM28150 and is going on well as per the ceo and on roll out next year 2012.
but this stock is under shorties control and hence above notes.
"By the way chief, if you look at their guidance, they'll actually do .02 better in EPS for Q2 because their margins will be 1/2% higher and their sales will be the same in Q2 with the same sales. Institutions won't give you a chance to buy this at $34 or $35, they'll be buying it in the high $36's laughing at people like you who think this should be a single digit forward PE stock."
By the way Chief (not), guess you guessed wrong (_|_)hole. Could have bought all day in the $35 range!
stay AWAY. if you know english that's the way you do it :-)
this stock next support is 31 and then 28. if market is thinking wireless growth is not going to be there as increasingly qcom coming in on verizon iphone wifi+gps and brcm has no app processor like snapdragon and wirless is going to slow every qtr for next 2 to 4 qtr's atleast then this stock has no bottom till 20.
i don't want to be scary at that price of 20, it will be 7 times forwad earnings or so which is what you get when you have no growth in a hot wireless area.
so support level's are 31 and 28. if both gone then 20. it is as scary as that. and charts are literally dog poop.
i think around 28, brcm might think of going private for sure.
no the shorts do not control it,,,its pure selling that hurts a stock and BCM insiders are selling in mass quantity because they know the company is in trouble looking out.
the B.S. part is the up grades and no pre annpuncement tells me its a scam
You got it, not 1 share purchased in LAST 6 MONTHS.
Insider Purchases - Last 6 Months
Purchases N/A 0
Sales 1,168,440 52
Net Shares Purchased
(Sold) (1,168,440) 52
Total Insider Shares Held 1.56M N/A
% Net Shares Purchased
(Sold) (42.9%) N/A
From Yahoo Finance 4-28-11
this is dead till next qtr. shorties are in full control. with 5.41 in cash per share, they are like 30 but nobody bothers.
even if they give beat and raise next qtr, charts are like $poop this won't cross 40 for years to come.
AVOID trading this on long side.
can 35 even hold? or we get low 34. looks like buying is happening in 35.4 range but will be crushed by sellers/shorties.
i think low 34 is easy. if 35 breaks. looks like way overdone even for somebody who is a perma bull on brcm but is very scary of the charts.
in 2k at 35.5 when it came back from 35.36. tight stop at 35.36. if it breaks 35, i am afraid it can go even 32 today!!
completely in shorties hand in this panic selling.
on the upside, it has to do an island reversal and come back and take out 37, if it has a slight chance of even getting closer to 39.
i think 40 is ta-ta for next 1 year or so. even at 40 this stock was cheap now it has gotten really cheap at 32 dead cheap.
"so we have got 34 to 35 easy tomorrow"
Easy? This stock will go nowhere near $34-35 tomorrow, get a clue. Try $37-38 area where it closes.
get ready to buy. price is 35.3. slow and easy. all you can make is 1k on the high of 36.5 i guess.
this stock is the most abused one. as you can see at 36 it is dead cheap and no bid's.
look at jnpr after earnings went to 36 (from 39) and came back to 40.
$brcm is shorties paradise and after today earnings it will remain so.
only thing that can change is mgmt buying more stock with their cash and bouncing the dividend from current 9 cents to 15 cents as well as new customer announcements (like nokia/samsung customer name).