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We are selling 25 shares of Broadcom at roughly $299. Following the trade, Jim Cramer’s Charitable Trust will own 550 shares of AVGO, decreasing its weighting to 4.5% from 4.7%. This sale doesn’t reflect any change in our positive view on Broadcom. We like the semiconductor and software company’s AI business, which features both custom AI accelerators and networking equipment. However, it’s hard to see the 7% drop in Advanced Micro Devices on Wednesday — despite what we viewed as a solid quarter and upbeat guidance — without feeling some concern about profit-taking in these red hot AI chip stocks after earnings. After all, that’s been one of the major themes of second-quarter earnings season: results not living up to investors’ lofty expectations. Broadcom is expected to report its latest results on Sept. 4. Broadcom shares are up about 28% year to date and have rallied about 10% since our previous sale in July, including a 2% bump today. This trim will help ensure we’re not being too greedy. From this sale, we will realize a gain of roughly 238% on stock purchased in August and September 2023. (Jim Cramer’s Charitable Trust is long AVGO. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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