20 AI News That Broke The Internet This Month

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8. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 130

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. The company posted third quarter earnings earlier this month, beating market expectations on earnings per share and revenue by $0.03 and $110 million respectively. However, weaker-than-expected guidance numbers for the fourth quarter led to a downward spiral for the stock. Looking to the fourth-quarter, Broadcom expects revenue to be $14 billion, below the $14.13 billion estimate. Adjusted EBITDA is expected to be around 64% of total revenue. Besides the earnings, Broadcom Inc. (NASDAQ:AVGO) stock was also impacted by reports of the company bidding to takeover at Intel. However, these reports were termed improbable by most Wall Street analysts citing regulatory hurdles.

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