AVGO Dec 2019 310.000 put

OPR - OPR Delayed Price. Currency in USD
2.7100
-3.1200 (-53.52%)
As of 3:59PM EST. Market open.
Stock chart is not supported by your current browser
Previous Close5.8300
Open5.3500
Bid1.1000
Ask3.0000
Strike310.00
Expire Date2019-12-20
Day's Range2.4400 - 5.3500
Contract RangeN/A
Volume1,340
Open InterestN/A
  • Broadcom Gives Upbeat Forecast; Order Losses Hit Shares
    Bloomberg

    Broadcom Gives Upbeat Forecast; Order Losses Hit Shares

    (Bloomberg) -- Broadcom Inc. gave an annual sales forecast that signaled optimism that the chip industry has weathered the worst of the China-U.S. trade war, but shares dropped after the company said some units are losing orders, raising concerns about overall growth.Sales in fiscal 2020, which ends next November, will be $25 billion, plus or minus $500 million, the company said Thursday in a statement. That projection includes revenue from its purchase of a Symantec Corp. unit, and was in line with or better than estimates from some analysts who had also factored in that new division’s contribution.On a conference call with analysts, executives said Broadcom lost business from a big smartphone customer in one product area and warned that Wi-Fi chip sales will decline next year. The stock, which had gained on the initial report, slipped more than 2% in extended trading following the detailed outlook.Chief Executive Officer Hock Tan has built the company into one of the biggest in the semiconductor business through a string of acquisitions, and is now expanding into software. That gives Broadcom one of the widest reaches in technology, with clients including Apple Inc. and Samsung Electronics Co. in smartphones and some of the top data-center operators for networking components. The evaporation of some business from one of those big phone makers will hold back revenue gains, and the company will tightly control its investment in wireless and industrial chips, Tan said on the call.Apple is one of Broadcom’s largest customers for smartphone components, and earlier this year the two companies struck a deal to supply Apple’s products with radio frequency, or RF, chips for the next two years. Broadcom has also long supplied Apple with Wi-Fi components. But a wireless-charging component used in Apple’s iPhone for a few years from Broadcom was replaced in newer models by a part from STMicroelectronics NV, according to breakdowns of the handset’s parts by iFixit and others. That may be the lost business Broadcom disclosed.The company is targeting total semiconductor sales of $18 billion in 2020, Chief Financial Officer Tom Krause said on the call. The company’s core business -- chips used in networking, broadband and storage systems -- will grow about 7% to around $12 billion, he said. Wi-Fi chip revenue will decline from a total of $2.2 billion and mixed-signal chip revenue will drop by half to less than $500 million, he projected. The company is predicting enterprise software sales will rise to about $7 billion. Symantec revenue will grow from a base of around $1.8 billion, he said.Sales in the fiscal fourth quarter of 2019, which ended Nov. 3, rose 6.1% to $5.78 billion, the San Jose, California-based company said. Before certain items, profit was $5.39 a share. That compares with average analyst estimates for per-share profit of $5.38 on sales of $5.73 billion, according to data compiled by Bloomberg.Broadcom’s market value has swelled to $130 billion following Tan’s spree of deals, including his purchase of Symantec’s enterprise security business for $10.7 billion last month. A big chunk of the company’s products are used in China or sent through factories there on the way to becoming part of electronic devices sold around the world. Huawei Technologies Co., a Chinese equipment maker that has been called a security threat and was cut off from U.S. suppliers by the Trump administration, previously spent hundreds of millions of dollars a year on Broadcom chips.Tan, who has been among the most vocal chip-industry leaders in calling out the impact of the trade dispute between the U.S. and China, trimmed Broadcom’s revenue forecast earlier this year, shaving $2 billion from his original projections, citing declining orders amid the trade dispute. That’s made Broadcom’s stock a laggard. Its 29% gain this year compares with a 56% advance by the Philadelphia Stock Exchange Semiconductor Index.(Updates with details of unit performance predictions starting in third paragraph.)\--With assistance from Mark Gurman.To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Dow Jones Futures Rise On China Trade Deal Reports; Adobe Signals Breakout On Earnings
    Investor's Business Daily

    Dow Jones Futures Rise On China Trade Deal Reports; Adobe Signals Breakout On Earnings

    Dow Jones futures rose after China trade deal buzz sent the stock market rally to record highs. Adobe signaled a breakout on earnings. Broadcom, Costco, Oracle moved on results too.

  • Barrons.com

    Broadcom Stock Is Slipping After the Chip Maker Met Earnings Forecasts. Here’s Why.

    Broadcom stock is up slightly after the company posted better-than-expected sales Thursday afternoon and met earnings forecasts

  • Broadcom outlook for 2020 gives hope for chip-earnings rebound, stock gains
    MarketWatch

    Broadcom outlook for 2020 gives hope for chip-earnings rebound, stock gains

    Broadcom Inc. shares tick higher in the extended session Thursday after the chip maker’s outlook tops Wall Street estimates, and quarterly results are in-line.

  • Chipmaker Broadcom Tops Wall Street's Targets, Raises Dividend
    Investor's Business Daily

    Chipmaker Broadcom Tops Wall Street's Targets, Raises Dividend

    Chipmaker and enterprise software firm Broadcom late Thursday beat Wall Street's targets for its fiscal fourth quarter. The Broadcom earnings report drove its stock lower in extended trades.

  • Broadcom Inc. (AVGO) Q4 Earnings and Revenues Beat Estimates
    Zacks

    Broadcom Inc. (AVGO) Q4 Earnings and Revenues Beat Estimates

    Broadcom Inc. (AVGO) delivered earnings and revenue surprises of 0.56% and 0.38%, respectively, for the quarter ended October 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Tech Earnings Beat After Hours: ORCL, ADBE, AVGO
    Zacks

    Tech Earnings Beat After Hours: ORCL, ADBE, AVGO

    A burst of earnings report activity has hit the tape after Thursday's closing bell, with positive results from Oracle, Adobe and Broadcom.

  • Broadcom's full-year forecast fails to impress Wall Street, shares down
    Reuters

    Broadcom's full-year forecast fails to impress Wall Street, shares down

    The outlook pointed to a weaker-than-expected wireless business, said Kinngai Chan, an analyst with Summit Insights Group. Broadcom, on a post-earnings call said that Symantec Corp's enterprise security unit, its latest $10.7 billion acquisition, is expected to contribute about $1.8 billion next year. The 2020 guidance was actually a little light on the Street as revenue from Symantec was expected to be about $2 billion, said Christopher Rolland, analyst with Susquehanna Financial Group.

  • Stocks Hit Records on China Trade Hope & Buy this Biotech Stock - Free Lunch
    Zacks

    Stocks Hit Records on China Trade Hope & Buy this Biotech Stock - Free Lunch

    The latest U.S-China trade war news that includes a positive tweet from President Trump that helped lift stocks to new highs. A look at LULU's earnings. And why Vertex Pharmaceuticals (VRTX) is a Zacks Rank 1 (Strong Buy) stock right now...

  • TheStreet.com

    Broadcom Shares Rise After Chipmaker Posts Strong 2020 Guidance

    Broadcom's quarterly revenue narrowly beat estimates and earnings per share met consensus. Guidance for 2020 beat analyst estimates.

  • Broadcom Earnings, Revenue Beat in Q4
    Investing.com

    Broadcom Earnings, Revenue Beat in Q4

    Investing.com - Broadcom (NASDAQ:AVGO) reported fourth quarter earnings that beat analysts' expectations on Thursday and revenue that topped forecasts.

  • The Zacks Analyst Blog Highlights: Adobe, Broadcom and Oracle
    Zacks

    The Zacks Analyst Blog Highlights: Adobe, Broadcom and Oracle

    The Zacks Analyst Blog Highlights: Adobe, Broadcom and Oracle

  • Chip Analysts Struggle to Get Excited About 2020 After Rally
    Bloomberg

    Chip Analysts Struggle to Get Excited About 2020 After Rally

    (Bloomberg) -- After a year in which semiconductor stocks defied conventional wisdom with a seemingly unstoppable rally in the face of gloomy fundamentals, analysts are loathe to go all in.With signs of a rebound in demand still scant, the key question for the new year is where chipmaker shares can go when they’re trading at the highest price to future earnings multiples in nearly a decade. Most analysts expect business to improve in 2020, aided by things like 5G technology and cloud infrastructure spending. But valuations are cause for concern, especially when accounting for lingering tariff uncertainty.“It is challenging to argue that a good amount of the future return potential hasn’t simply been pulled forward on hope,” said Bernstein analyst Stacy Rasgon.At the end of 2018, most of Wall Street saw little to get excited about in the semiconductor industry. Chipmakers had begun axing forecasts as customer orders slowed and inventories swelled as the U.S.-China trade war heated up. Despite all of that, the Philadelphia semiconductor index embarked on a relentless advance, logging just two down months the entire year.The gauge that tracks 30 semiconductor-related stocks has risen 56% so far in 2019, which would be the biggest annual gain in a decade. That eye-popping number was aided by a brutal market sell-off at the end of 2018 that hit technology stocks particularly hard. Chip shares notched new highs Thursday after President Trump said the U.S. and China are “very close” to a “big” trade deal.To keep the rally going, semiconductor companies will need to start posting better-than-expected financial results, according to Morgan Stanley analyst Joseph Moore, who was one of the first analysts on Wall Street to get cautious on the group in the second half of 2018. Moore now advocates holding a select group of stocks including Intel Corp. and Nvidia Corp., which he expects to benefit from higher cloud spending in 2020.“The period where stocks are going to go up on bad numbers is largely behind us,” he said in an interview. “If the numbers come up, then we can have some good performance. I don’t think there’s room for these multiples to come up too much more.”In that regard, the third quarter was a good start. With results in from all members of the chip benchmark except for Broadcom Inc., more than three-quarters of companies beat profit and revenue estimates, according to data compiled by Bloomberg.Still other indicators are worrisome. Inventory levels for many chipmakers remain elevated, according to Moore, and tariffs haven’t been resolved. U.S. goods on some electronics imported from China are set to increase on Dec. 15 if there’s no trade deal.Despite the trade uncertainty, 2020 is “looking decent” from a fundamental standpoint, according to Bloomberg Intelligence analyst Anand Srinivasan. He expects cloud spending to improve, 5G spending to kick in, and stability in mobile devices and personal computers.“The growth themes that we have been positing are going to be manifested in 2020, particularly in the second half,” he said. “We think it still could be a bumpy ride from a stock perspective but we feel optimistic about 2020.”See AlsoSoftware Analysts See More Volatility in an Uncertain 2020Airbus Secures Lead Over Boeing as 737 Max Weighs Into 2020After ‘Blood-Spilled’ Year, Pot Firms Brace for Repeat in 2020Small-Caps Set to Retake 2020 Market Lead After Three-Year LagS&P 500 Melt-Up Is So Hot It’s Making Cheerleaders Into Skeptics(Updates shares and Trump comments in fifth paragraph, adds P/E chart.)\--With assistance from Lu Wang.To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Broadcom Develops Automation.ai to Support AIOps Growth
    Zacks

    Broadcom Develops Automation.ai to Support AIOps Growth

    Broadcom's (AVGO) new Automation.ai is likely to enable improved and faster decision making for client companies.

  • Want To Retire Early? Learn the Intelligent Investing Secret - December 12, 2019
    Zacks

    Want To Retire Early? Learn the Intelligent Investing Secret - December 12, 2019

    Achieving the financial freedom to retire early is a dream for most, but making that dream a reality isn't as tricky as it sounds. If you are willing to make some serious lifestyle changes and sacrifices, it can be possible.

  • Cisco Enters Chip Market: Should AVGO, INTC, ANET Take Note?
    Zacks

    Cisco Enters Chip Market: Should AVGO, INTC, ANET Take Note?

    Cisco (CSCO) ups its game in networking chip market with Silicon One Q100, putting Broadcom, Intel, Arista Networks, and Juniper Networks at risk.

  • Barrons.com

    Broadcom Reports Earnings Today. Here’s What to Expect.

    Wall Street analysts are predicting that the company will report fiscal fourth-quarter adjusted earnings of $5.39 a share.

  • Dow Jones Futures: Lululemon Lags; 3 Key Earnings Reports For Stock Market Rally
    Investor's Business Daily

    Dow Jones Futures: Lululemon Lags; 3 Key Earnings Reports For Stock Market Rally

    Futures: Lululemon Athletica fell late on weak guidance after Apple and chips led Wednesday's stock market rally. Thursday night's Adobe, Broadcom and Costco earnings will be key.

  • Benzinga

    Preview: Broadcom's Q4 Earnings

    Broadcom (NASDAQ: AVGO ) announces its next round of earnings this Thursday, December 12. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement. Earnings and Revenue Wall Street ...

  • TheStreet.com

    [video]Cisco's Bold Strategy Change Could Boost its Cloud Exposure

    In a challenge to Broadcom and others, Cisco plans to sell a new switching/routing processor and license its routing software to other hardware makers.

  • Benzinga

    5G Stocks Are Heating Up Ahead Of Tariff Deadline

    Suppliers of 5G technology are getting some love on Wall Street this week, with several experts saying any trade tariff-related weakness should serve as a long-term buying opportunity heading into 2020. ...

  • Cisco Enters Chip Market, Supplying Microsoft, Facebook
    Bloomberg

    Cisco Enters Chip Market, Supplying Microsoft, Facebook

    (Bloomberg) -- Cisco Systems Inc. has started supplying switch chips to major data-center operators, including Microsoft Corp. and Facebook Inc., opening up a new avenue to win orders from some of its largest networking-equipment customers.Cisco Silicon 1 is a switch semiconductor that’s already being used by Microsoft and Facebook in crucial networking equipment, the companies said Wednesday at an event in San Francisco. San Jose, California-based Cisco is now offering the chips, which it says are the fastest in the industry, to all of its customers, regardless of whether they buy its networking machinery. Previously Cisco’s chips were only available as components of its machines.The shift toward standalone chip sales is another departure from the business model that made Cisco one of the biggest companies in the technology industry. Cisco’s expensive proprietary combinations of hardware and software make up the backbone of much of the internet and corporate networks, and these products generate the bulk of the company’s revenue. The new initiative has the potential to attract business from customers who want to build their own machines instead of buying whole packages. It also puts Cisco in direct competition with its suppliers, Intel Corp. and Broadcom Inc., which also make switch chips that the networking equipment maker uses in some of its products.“From today -- and this is something that some of you never thought we’d do -- some of our customers will buy our silicon and build their own products if that’s what they choose to do,” Chief Executive Officer Chuck Robbins said at the event. “We really want our customers to consume this technology in any way they want.”As the internet infrastructure business moves away from suppliers who provide all the needs through locked-down combinations of hardware and software, Robbins has been pushing Cisco to adapt by becoming a bigger supplier of networking services and software. On his watch, software has risen to provide about 11% of revenue. Hardware still generates more than half of sales.Cisco shares rose less than 1% to $44.24 at 2:02 p.m. in New York. The stock gained 1.8% this year through Tuesday’s close.The move into selling components is an attempt to win orders from the hyperscalers, such as Microsoft, Google and Amazon.com Inc.’s AWS, a group that has increasingly turned away from Cisco’s offerings and equipped their data centers with computers and networking gear designed in house. Those big cloud-computing vendors contribute as little as 2% of Cisco’s total sales, according to Raymond James analyst Simon Leopold.Switch chips perform the crucial function of deciding where packets of data should go in a network of computers. They are designed to handle that task at great speed, and only a few companies have been successful in the market. Broadcom is the biggest provider of this type of chip as an individual component and has as much as 80% share, Leopold said. Intel took a bigger interest in the market in June when it bought startup Barefoot Networks.Cisco’s new offering will combine the attributes of both switch and routing chips, the company said. It’ll be able to move data very quickly and still be programmable, carrying the ability to have its function changed. Routing, directing traffic among networks, is typically conducted by groups of chips that bring other attributes but are unable to direct data fast enough for modern internet traffic loads. One chip providing all of the functions will simplify the operation of networks by eliminating the need for different layers of software, Cisco executives said.Offering up what was previously guarded as a proprietary advantage shows a flexibility at Cisco that has been increasing as Robbins works to transform the company. Analysts predict the build-it-yourself approach to networking, pioneered by the large cloud-service operators, over time will be copied by companies looking to reduce the cost of their data-center spending. That corporate market is one of Cisco’s biggest sources of revenue.Cisco’s equipment, including its chips, is designed by the company and manufactured by a third party, which it hasn’t identified.The company also announced a new router machine at the event, designed to better serve as the backbone for new fifth generation, or 5G, cellular networks. The Cisco 8000 will be based on the new chip. The company also unveiled plans for products that will support faster data transmission speeds over fiber-optic cables. Like the rest of the networking industry, Cisco is positioning itself to be a main provider of equipment for the predicted surge in internet traffic and data created by the proliferation of mobile systems.(Updates with comment from Cisco CEO in the fourth paragraph.)To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • AVGO vs. PI: Which Stock Should Value Investors Buy Now?
    Zacks

    AVGO vs. PI: Which Stock Should Value Investors Buy Now?

    AVGO vs. PI: Which Stock Is the Better Value Option?