Broadcom Inc. (Nasdaq:AVGO) is one of them Stocks in focus this week amid Jim Cramer’s game plan. Cramer highlighted the obstacles facing the stock, saying:
After the close, Broadcom reported… The $1.5 trillion company makes semiconductors and software but really doesn’t get enough attention given its size. Now, some of the chips are being sold to Alphabet, which is a big buyer. In other words, Broadcom needs to acquire new customers. Currently, it is trapped in a software recession due to concerns about artificial intelligence. I think this decline is wrong. You’re not going to get $1.5 trillion for doing nothing, right? But you know what? This is one of those things that is hard to have right now, I know that and I felt it today as we had our monthly meeting.
Stock market chart. Photo courtesy of energepic.com
Broadcom Inc. (Nasdaq: AVGO) provides semiconductor equipment and infrastructure software, including networking, connectivity and storage solutions. The company’s products are used in applications such as data centers, telecommunications, broadband, smartphones, industrial systems and artificial intelligence networks. On the Feb. 3 show, a caller asked if now was a good time to invest in the company’s stock, and Cramer responded:
ok i am [of] Broadcom is of two minds. While it’s not a good time to get into it, it’s a great company. So what do we do? We’re going to bring it down. It really bounced back today. We hope Hock Tan will repurchase. He has an income. I’m going to join, let me join NVIDIA…this company is a winner in this environment, not a loser. I will be right. It just takes a little time.
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Read next: 30 stocks that will double in 3 years and 11 Hidden Artificial Intelligence Stocks to Buy Right Now.
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