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Stock impact report

Broadcom: Still Hold-Rated - 'Soft-Landing' Underway [Seeking Alpha]

Marvell Technology, Inc. (MRVL) 
Last marvell technology, inc. earnings: 3/4 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: marvell.com/company/investor_relations
Company Research Source: Seeking Alpha
The company outlook now reflects our cautious view about customers' inventory correction and capex spending optimization. We still believe AVGO's cloud A.I. growth will be offset by weaker demand for traditional cloud compute, communications service providers' inventory correction, and weaker demand in the enterprise market. We expect financial performance to moderate further into 1H24; thus, we recommend investors remain on the sidelines. This idea was discussed in more depth with members of my private investing community, Tech Contrarians. Learn More » We continue to be hold-rated on Broadcom ( NASDAQ: AVGO ) after Q3'23 earnings results. Management has now confirmed the soft landing in its business and guided lower than consensus for Q4'23; current-quarter revenue is estimated to be $9.27B versus consensus at $9.28B. We think the Q3'23 earnings results and outlook confirm our negative thesis of a growth rate slowdown in FY23 due to inventory correction cycles and weaker ca Show less Read more
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