Volatility increases AVGO correction risk at current levels

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Volatility increases AVGO correction risk at current levels

$Broadcom(AVGO)$ AVGO does seem like it'll be an extremely volatile stock in the near-term. And reasonably so, as markets debate between the company's AI prospects (competitive advantage in custom ASICs/networking) and the extent actually supportable by tangible fundamentals.

My view is that there is a high potential for the stock to correct towards my reduced price target given the estimated market for AVGO's AI solutions will indeed be comparatively constrained, and also considering persistent downside risks facing its non-AI business.

The volatility makes it quite prone to such a correction at current levels, and for short-term trading, I'd take some profits here.

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