Jim Cramer on Broadcom (AVGO): "I Like It"

Broadcom Inc. (NASDAQ:AVGO) is one of the stocks that Jim Cramer shared his take on. Cramer called the stock a “battleship” during the episode, as he said:

“Look, I believe in the growth of the data centre. I think we’ll look back on the stock of Broadcom, down over 11% today, and say, wow, I waited a couple days after its hideous decline, and I found out that insiders bought it and orders are flying in. I like to buy this kind of stock, not in free fall, which it is right now, but usually a couple days after the free fall, make sure that all the sellers are done. Here’s what I know, though: When we get days like today, wise guys will come up to me and say, thanks for nothing. Thanks for putting me in at the top at Broadcom. I don’t know… People do that. I didn’t say that. And second, my Charitable Trust has plenty of fail-safes, which include buying small, not large, because Broadcom’s now a battleship, not a swift boat, and it’s going to take time to mend. We do own a lot of it, and I like it, even if we had to put up with days like today…. That’s pretty much par for the course. Still, owning something like Broadcom when it’s getting killed hurts.”

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.

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Disclosure: None. This article is originally published at Insider Monkey.