With strong fundamentals and technicals, Bill Baruch explains why he added AVGO to portfolios. 

Transcript:

The other chip stock we need to talk about is Broadcom. Yeah, because it’s a new position for you.
When did you establish it and why establish it yesterday as well as as well in the morning, you know, ahead of the Fed. But when as we’re waiting for seeing this momentum turn, yeah, it’s down 5% here today, it’s a very tactical play it from a trauma technical standpoint, it went back down to this previous highs that we had in April. In May. There’s a gap from its earnings report we tested into in yesterday was back above the 50 day moving average. So technically, I liked that momentum shift that we saw there right there in the thick of of the of the chip trade. And I think what we saw yesterday shows that so yeah, not happy with where we see things today, and I’ll keep an eye on things very closely, but that’s what we did.