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Buy Broadcom Stock Ahead of Second-Quarter Earnings

You would be hard-pressed to find a hotter stock in the semiconductor industry than Broadcom (AVGO) , which has seen its shares rise more than 10% and 15% in one and three months, respectively. Expand that horizon by six months, and its shares have returned 28% to patient shareholders. But it would be a mistake to take profits now.

The company's growth momentum not only has helped it crush the 6.47% year-to-date rise in the S&P 500 (SPX) index, but also the iShares PHLX Semiconductor ETF (SOXX) . Despite the strong...