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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Broadcom Inc    AVGO

BROADCOM INC

(AVGO)
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Delayed Quote. Delayed Nasdaq - 08/16 04:00:00 pm
273.78 USD   +1.91%
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White House to host meeting with tech executives on Huawei ban: sources

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07/19/2019 | 08:50pm EDT
A Huawei logo is pictured at their store at Vina del Mar

WASHINGTON (Reuters) - White House economic adviser Larry Kudlow will host a meeting with semiconductor and software executives on Monday to discuss the U.S. ban on sales to China's Huawei Technologies Co Ltd, two sources briefed on the meeting said on Friday.

Treasury Secretary Steven Mnuchin will also attend the White House event, to which chipmakers Intel Corp and Qualcomm Inc have been invited, the people said.

A White House official confirmed the meeting would take place, noting that Google and Micron would attend, but said it had been called to discuss economic matters.

The subject of Huawei was expected "to come up but that it is not the reason why they are convening the meeting," said the official, who spoke on condition of anonymity.

The future of U.S. companies' ties to Huawei, the world's no. 1 maker of telecommunications equipment, remains uncertain after the Trump administration put the company on a blacklist in May, citing national security concerns.

The move banned U.S. companies from selling most U.S. parts and components to it without special licenses, but President Donald Trump said last month American firms could resume sales, with an eye on reviving trade talks with Beijing.

Several weeks after the announcement, details about what the new policy towards the company is are still not forthcoming.

Commerce Department Secretary Wilbur Ross has said licenses would be issued where there is no threat to national security. Reuters reported that the United States may approve licenses for companies to restart new sales in a matter of weeks.

One of the people briefed on Monday's meeting said Broadcom Inc was also invited to the White House event. Microsoft Corp was also expected to receive an invitation, the person said.

Intel and Qualcomm declined to comment. Google, Micron, Microsoft and Broadcom did not immediately respond to requests for comment.

(Reporting by David Shepardson and Alexandra Alper; Writing by Eric Beech; Editing by Richard Chang and Sonya Hepinstall)

By David Shepardson and Alexandra Alper

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET 0.85% 1179.21 Delayed Quote.12.85%
BROADCOM INC 1.91% 273.78 Delayed Quote.7.67%
INTEL CORPORATION 1.75% 46.5 Delayed Quote.-2.62%
MICRON TECHNOLOGY 3.10% 43.55 Delayed Quote.33.12%
MICROSOFT CORPORATION 1.83% 136.13 Delayed Quote.31.61%
QUALCOMM 2.98% 73.28 Delayed Quote.25.04%
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Financials (USD)
Sales 2019 22 606 M
EBIT 2019 11 898 M
Net income 2019 2 498 M
Debt 2019 31 717 M
Yield 2019 3,87%
P/E ratio 2019 48,6x
P/E ratio 2020 28,0x
EV / Sales2019 6,22x
EV / Sales2020 5,78x
Capitalization 109 B
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Technical analysis trends BROADCOM INC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 308,29  $
Last Close Price 273,78  $
Spread / Highest target 27,8%
Spread / Average Target 12,6%
Spread / Lowest Target -8,69%
EPS Revisions
Managers
NameTitle
Hock E. Tan President, Chief Executive Officer & Director
Henry Samueli Chairman
Boon Chye Ooi Senior Vice President-Global Operations
Thomas Harry Krause Chief Financial Officer
Andy Nallappan Chief Information Officer & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
BROADCOM INC7.67%106 938
TAIWAN SEMICONDUCTOR MFG. CO. LTD.--.--%205 212
INTEL CORPORATION-2.62%204 599
TEXAS INSTRUMENTS26.83%111 894
NVIDIA CORPORATION19.52%90 601
QUALCOMM25.04%86 506