Broadcom, Qualcomm And An Industrial Stock: CNBC's 'Final Trades'

On CNBC's “Halftime Report Final Trades,” Stephanie Link, chief investment strategist and portfolio manager at Hightower, said Broadcom Inc. (NASDAQ:AVGO) reported an outstanding quarter and issued conservative guidance.

Broadcom reported second-quarter revenue of $15 billion on June 5, beating analyst estimates of $14.99 billion, according to Benzinga Pro. The semiconductor company also reported second-quarter adjusted earnings of $1.58 per share, beating analyst estimates of $1.56 per share. Broadcom expects third-quarter revenue of approximately $15.8 billion, versus estimates of $15.79 billion. The company anticipates third-quarter adjusted EBITDA of at least 66% of projected revenue.

Joseph M. Terranova, Senior Managing Director for Virtus Investment Partners, said The Boeing Company (NYSE:BA) has never shown up on a momentum screen in the last five years, but it is starting to do that now.

Lending support to his choice, RBC Capital analyst Ken Herbert, on Monday, maintained Boeing with an Outperform rating and raised the price target from $200 to $230.

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Rob Sechan, CEO of NewEdge Wealth, named QUALCOMM Incorporated (NASDAQ:QCOM) as his final trade.

Qualcomm, on Monday, announced it reached an agreement to acquire Alphawave Semi for $2.4 billion. The company said that Alphawave’s assets will help accelerate its push into the data center market, where demand for low-power, high-performance chips is rising alongside growth in AI workloads.

Price Action:

• Broadcom shares fell 1.1% to close at $244.28 on Monday.
• Boeing rose 3.2% to close at $217.51 on Monday.
• Qualcomm shares climbed 4.1% to settle at $155.41 during the session.

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Image created using artificial intelligence via Midjourney.