Jim Cramer on Broadcom: “It Can Make a Comeback”

Broadcom Inc. (NASDAQ:AVGO) was among the stocks Jim Cramer commented on, saying that tech stocks cannot be trusted to lead anymore. During the episode, a caller asked Cramer’s thoughts on the company’s earnings, and he said:

Let’s, okay, Broadcom’s earnings were not good. And my Trust lost a huge amount of money, and I feel really badly about it. It can make a comeback. I hope there’s some insider buying. They did miss the numbers. But if you want to ask what Broadcom was like for me, Broadcom was like a weekend of hell. I got home, and I just said, I screwed up, I screwed up on Broadcom. It was just like 1982 when I got something wrong in the market. Nothing’s changed. I don’t like that.

Stock market data. Photo by Jakub Zerdzicki on Pexels

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor devices and infrastructure software, including networking, connectivity, and storage solutions. The company’s products are used for applications in data centers, telecommunications, broadband, smartphones, industrial systems, and AI networking. Cramer mentioned the stock during the June 4 episode and remarked:

… The disappointing earnings may not be as crushing as we think. This is not the first time that Broadcom, which by the way, is a gigantic company, has offered a measured forecast only to crush the numbers next quarter. The stock had gone parabolic into the quarter, and as we told CNBC Investing Club members when we sold some stock ahead of this quarter this week, a parabola is never a good sign.

Plus, when we speak with George Kurtz, the CEO of CrowdStrike tonight, I think we’re going to get a much better sense of how well the cybersecurity company’s doing. And the notion of an earnings or a forecast disappointment, it may be misplaced… The disappointments really weren’t all that disappointing.

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