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Broadcom Forming Flat Base Ahead Of Third-Quarter Earnings

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Its current consolidation takes Broadcom out of the running for the current top technical performer within the fabless semiconductor sub-industry group. Nonetheless, the fundamental case and strong prior uptrend make this one to watch.

Broadcom reports its third quarter on September 2, with analysts expecting earnings of $6.85 per share on revenue of $6.74 billion. Both would be year-over-year increases. There’s even a “whisper number” of $7.13 per share. That means analysts and fund managers privately expect a number higher than the official estimate. If the whisper number is missed, that could send shares lower.

For the full year, Wall Street pegs earnings growth at 25%, to $27.58 per share. Next year, that’s seen growing another 9% to $30.12 per share.

Broadcom topped earnings and revenue views in each of the past four quarters. Both earnings and revenue grew at double-digit rates in the past three quarters.

As of Thursday, shares of the chipmaker were up 0.19% in the........

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