The purchase will increase the stock's weighting in the portfolio to 3.16% from 2.94%.
Shortly after the opening bell, we will buy 50 shares of Broadcom at roughly $142.47. Following the trade, Jim Cramer 's Charitable Trust will own 700 shares of AVGO, increasing its weighting in the portfolio to 3.16% from 2.94%. The stock market is headed for another rough day as concerns about the economy grow. The July nonfarm payrolls report Friday morning added to these worries due to a miss on job gains and an unexpected jump in the unemployment rate to 4.3%.
Plus, the stock isn't that expensive, trading at around 26 times forward earnings, with growing cash flow that can support a small dividend yield and potential buybacks. In addition, we would be buyers of Advanced Micro Devices if we were not restricted. Intel 's horrible quarter Thursday night was confirmation that AMD is taking market share hand over fist. It's possible those gains could accelerate in the quarters and years ahead.
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