Broadcom's CEO is paying for misjudging President Trump's resolve to 'bring the Chinese to their knees,' says CNBC's Jim Cramer.
Tan may be feeling hard done by Trump, said Cramer, pointing out that the Broadcom CEO in 2017 went to the White House, and joined the president, to announce he was relocating the Singapore-based company back to the United States.
In another knock, the Trump administration last year blocked Broadcom's $117 billion bid to buy San Diego-based"What a kiss of death, if you're a great friend with the president," Cramer said on ""Broadcom is a remarkably good company and it's going to be hurt" in the crossfire between the world's two biggest economic superpowers, he explained.
Shares of Broadcom fell sharply at Friday's open on Wall Street, after the semiconductor maker reported late Thursday weaker-than-expected quarterly revenue. It also announced a 2019 revenue forecast cut, predicting a slowdown in demand stemming from the conflicts between
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