Broadcom share collapses: Broadcom Cashes in sales Outlook - News-Credit-Mortgage-Coin

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Friday, March 13, 2020

Broadcom share collapses: Broadcom Cashes in sales Outlook

The semiconductor company Broadcom withdraws its sales outlook for the current year.

Apple's supplier lacked visibility due to the novel corona virus, the company said on Thursday evening.



The stock continued to plunge in after-hours trading in New York after a disastrous Thursday. At times, it dropped about 10 percent to $ 197.50. In pre-exchange trading on Friday, however, the stocks are currently only about 0.5 percent down at $ 217.67. Competitors AMD and NVIDIA also collapsed.

Broadcom raised $ 5.86 billion in the three months to February 2, the group said, at $ 5.79 billion in the year-ago period. Adjusted earnings per share were $ 5.25, compared to $ 5.55 in the same period last year.

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